Targetti Sankey S.p.A, one of the leading manufacturers on the indoor and outdoor international architectural lighting market since 1928, announces that it is under the new ownership of the IDeA Capital Funds SGR. In addition to the new ownership, the Fund has appointed Italian native and industry veteran, Piercarlo Gramaglia, as the new CEO and Massimo Manelli, former CEO of Artemide, as President.
“Targetti is a perfectly aligned brand with the philosophy of the Fund, which identifies companies that have a strong growth potential for brands around the world.” remarked Francesco Gori and Vincenzo Manganelli, managing directors of the IDeA Capital Funds.
Founded in Italy in 1928, the historic company has experienced years of growth and has gained a superior reputation, establishing itself as one of the leading manufacturers in the lighting industry. IDeA Capital Funds SGR acquired 100% of the company in February 2017. In order to accelerate the international growth of the Company, new investments are expected over the next several years. Dedicated resources will go to research, product innovation and a range of new product introductions that have doubled the portfolio as showcased in the Targetti 2017 International catalog. A large investment is aimed at accelerating the path of international development over the next several years by enhancing the important technological and design know-how and heritage of this historic Italian brand.
“60% of our production revenue can be accounted from our international exports with France and the U.S. as major contributors,” reports the new CEO of Targetti, Piercarlo Gramaglia. “We have placed a great emphasis on the continued development in America, where Targetti recently opened its subsidiary in 2015. We want to also concentrate on new growth markets such as Asia.”
Targetti has subsidiaries in the most important markets worldwide: France, Spain, UK, Russia, the United States, United Arab Emirates and China. The Florentine company has experienced years of growth and fame from illuminating some of the world’s most prolific art treasures and landmarks including “Salone dei Cinquencento“ and “Michelangelo’s David” in Florence; “Piazza San Marco” in Venice; the National Roman Museum and Notre Dame Cathedral in Paris; the Royal Opera in Singapore; the New “Uffizi” Museum in Florence; and the Tower of Pisa, Bilbao Stadium, and the University of Lyon. Additional high profile projects worldwide include Wynn Resorts, NetFlix, ViaCom and Boston Consulting Group, Baha Mar International, Disney Resorts & Parks including Shanghai Disney Resort. Targetti’s international corporate clients include well-known brands such as Ferrari, McClaren, Mercedes, Peugeot, Max Mara, Levi’s, Benetton, Hilton, Marriott and McDonald’s.