Private equity firm PAI Partners (PAI) has agreed to acquire Scrigno, an opening solutions specialist, from the fund Clessidra Capital Partners 3, managed by Clessidra Private Equity SGR (Clessidra).

Headquartered in Sant’Ermete (Rimini), Scrigno is a leading fully integrated opening solutions player in Europe. With a primary focus on residential applications, Scrigno operates through three business units: counter-frames, security doors and performance products. The company is the European leader in the counter-frames for pocket doors market and is renowned for its strong brand and excellent quality of its products. Scrigno employs over 300 people and operates five manufacturing facilities in Italy.

Under Clessidra’s ownership, Scrigno reinforced its management team through selected hirings, successfully completed the integration and repositioning of the security doors division, entered the performance products business with the acquisition of CCE and strengthened the international development of the business.

PAI will support Scrigno’s management team in its future growth plans, which include further consolidating the fragmented opening solutions market and diversifying the company’s product offering.

Read more/Source: Private Equity Wire