Clerici Group Expands with Four Strategic Acquisitions, Boosting Annual Revenue by $36.49 Million
Italy: Bergamo-based Clerici Group, known for distributing heating, plumbing, and bathroom furnishings, completed four acquisitions over the summer, adding €33.5 million ($36.49 million) in cumulative revenues and €7.6 million ($8.28 million) in EBITDA to the company. These acquisitions bring Clerici’s total acquisitions over the past five years to 16 companies.
The latest acquisition in August involved Mariani Elio srl, a Terni-based plumbing and heating firm, acquired by Palagini Piero e Figli spa, a Clerici subsidiary. Mariani Elio, established in 1984, generated €10.4 million ($11.3 million) in revenues and €1.4 million ($1.52 million) in EBITDA in 2023.
Earlier, Clerici acquired Mara spa, a Sardinian firm specializing in bathroom furnishings, electrical, and plumbing systems. Mara spa, with three stores and 50 employees, reported €32 million ($34.85 million) in revenue and €5.4 million ($5.88 million) in EBITDA in 2023. Two other transactions completed by subsidiaries Unicom spa and Idras spa involved GSC RisClima srl and the operating branch of Sorelle Chiesa di Mazzoleni spa, respectively.
In 2023, Clerici’s consolidated sales reached €785 million (855 million USD approximately), up 2.4% from the previous year, with an EBITDA of €142 million ($154.66 million). Its private label, Storm, saw significant growth, contributing €146 million ($159 million) in revenue with a 17.3% increase over 2022. The core business accounts for 80% of Clerici’s turnover, with bathroom furniture making up the remaining 20%.
Source: Be Beez