ILLIMITY alongside AMUT to support its plan

3 December 2020

Illimity Bank, a high-tech bank listed on Borsa Italiana’s STAR segment, has completed a financing operation worth 10 million euro to support the growth plans of Amut, a leader in the field of plastic processing machinery.

Founded in Novara in 1958, Amut took the decision two years ago to begin refocusing its business on the recycling segment, leading the company to increase its value of production from 67 million euro in 2018 to a forecasted over 100 million euro for 2020. This business has now become the reference market for Amut, capable of generating 66% of its contracts.

The significant growth in the recycling segment led Amut to seek a banking partner capable of understanding the dynamics of the repositioning taking place and of providing the support required to be able to continue with the development plan.

Thanks to an approach combining financial skill and technological and industrial expertise, illimity worked alongside the company during the analysis phase, assistance which included advice given by a tutor expert in the plastic processing and recycling sector, considered to be both sustainable and high-potential. A medium-term financing operation worth 10 million euro and consisting of two tranches was accordingly structured, of which one, amounting to 6.25 million euro, is guaranteed by the Italian Central Guarantee Fund.

“We are proud to support a company like Amut which has converted its business from the viewpoint of greater sustainability and profitability”, commented Enrico Fagioli, Head of illimity’s SME Division, who added: “The unstable and uncertain situation in which we find ourselves calls for the banking system to work particularly closely with businesses. For this reason, illimity continues to support the growth of Italian SMEs in the best way possible and by the most effective means, performing a detailed analysis of the underlying business together with its potential and the relative growth plans”.

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