Gioconda, Italian subsidiary of LBO France acquired stake in Bluclad.

Gioconda, the Italian subsidiary of LBO France, has taken a stake, alongside the current management team, in Bluclad, the Italian leader in developing chemical solutions for the galvanization of metal used in the luxury goods sector, mainly for clothing, footwear and luggage. Financials terms of the deal were not disclosed. Thanks to its capacity for technical innovation, and the value-added services provided to galvanic and luxury companies, Bluclad has enjoyed steady and sustained growth since its creation, and also benefited from a highly buoyant underlying market thanks to the prominence of “Made in Italy” luxury goods. In 2017, the group posted revenue in excess of €20m ($22m) and had 42 employees, the majority of which are technical engineers. “Bluclad’s history is typical of the success of Italian SMEs: specific, unique and solid positioning and know-how, perfectly adapted to the niche market of luxury goods which is particularly attached to “Made in Italy” quality. The growth outlook is very well orientated, due on one hand to a highly buoyant luxury goods market and on the other hand to the opportunity for geographical and product diversification which has already been initiated by the company." Roberto d’Angelo and Arthur Bernardin, Gioconda Managing Directors.