Strategic Management Accounting in Action: The Nespoli Group Case

Presentation of the Nespoli Group

The Nespoli Group was founded in North Italy right after the Second World War. At the end of the 1940s, Oreste and Bruno Nespoli started what was called “Pennellificio Nespoli” (the Nespoli Brush factory). Initially the company was made of a few artisans working with clear and simple rules: serious work and customer satisfaction.

The company grew steadily, and at the end of the 1970s, it passed from being a small business to becoming an industrial-sized complex. At the end of the 1990s, Nespoli Group started a series of acquisitions in the Paint Tools sector throughout Europe (see Table 2).

The first strategic acquisitions have been made in Spain, France and Germany. Together with the acquisition of Franpin Group, it acquired ZFI (Zhongshan

Table 2 Nespoli Group acquisition history

Year

Country

Company

1996

Spain

Rulo Pluma s.a.

1999

France

Roulor s.a., Monitor s.a., Le Herisson s.a.

2001

Germany

Schabert GmbH

2004

France

Franpin Group

2005

Germany

Friess GmbH

2006

France

Milbox s.a.

2008

France

Mancret

Italy

Gubra s.r.l.

Germany

Techno

Italy

Gaia s.r.l.

Italy

Italideal—Cia s.r.l.

2009

Italy

Grand Chic s.rl.

2010

Spain

Castor

Italy

Pippo brand

Italy

Eurostile

2011

Germany

Noelle Group

Franpin Industries) its China-based factory. Later on, Nespoli Group decided to diversify its offer and made further acquisitions in the sector of Aerosol Paint Spray with the acquisition of Italideal and CIA in Torino (Italy).

In addition, Metal Tools become part of Nespoli Group business with the acquisition of Milbox in France in 2006 and of Techno in Germany in 2008. Nespoli Group entered in the business of Wood and Leather Treatment through the acquisition of Gubra and Grand Chic (Italy).

In 2010, it was added as another business unit for Cleaning Tools, driven by the acquisition in Italy of the well-known Pippo and Eurostile brands. Today the Nespoli Group, led by Luigi and Alessandro Nespoli, is the first European group in the market segment of “Tools for painting”, in terms of sales figures, production volumes and market size. Entering in UK, Poland, China, Russia and Turkey markets, the Group had a turnover approaching 350 million euros with over 2000 employees. The Nespoli Group owns several renowned brands such as Nespoli, Roulor, Franpin, Rulo Pluma, Friess, Techno, Pippo and Coronet, and it manufactures tools for several “private labels”.

 
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