Conceria di Urgnano

Background

Conceria di Urgnano tannery was struggling to keep on the market in a phase of strong vertical integration by the most important fashion industry actors. The two young owners who had inherited a family business decided to de-invest and to make a more orderly wrap up of the business they were suggested by consultants to apply to the Tribunal of Bergamo. PIPM won the Tribunal’s tender organized to sell all the movable assets including the large leather stock.

Equipment highlights

The equipment list included several young Italian (home of many top leather machinery brands) machines for leather finishing (e.g.: Alpe Spak, Rotomec, Aletti, Selin, Cartigliano, Barnini, etc.).

Transaction

PIPM Italy Srl bought all the movable goods + the leather stock (incl. some pieces of exotic leather) winning the tender organized by an auctioneer on behalf of the Tribunal of Bergamo and had 5 months to pick up all items.

Procedure

PIPM immediately started to sell the assets and used an extensive marketing campaign to reach the most important actors in the business, especially end users in Italy, rest of the EU and Turkey.

Result

We successfully sold the equipment within just a few months, exceeding the expectations of market stakeholders, many of whom were unaware that PIPM could also thrive in the leather industry. The plant was delivered empty, with all equipment removed, and the former owner remarked that the facility is in better condition than when it was first leased to her.