A few days after closing of the acquisition agreement by Apax partners, Tullio Pirovano, CEO of Lutech Group, shared the corporate vision and goal for the near future with the company stakeholders.
Apax, a primary Private Equity fund with around 60 billion dollars of investments in the tech, services, healthcare and Internet/consumer sectors, has bought out the One Equity Partners share in Lutech Group, thus reaching 100% of the holding of an Italian company which is experiencing strong growth, in the last four years tripling its EBITDA and concluding 15 acquisition operations, integrating some of the most important Italian tech companies.
Apax will continue the strategic path of organic growth and M&A alongside Lutech Group’s management, in particular in key growth sectors.
“It is the common intention,” confirms Tullio Pirovano, CEO of Lutech Group, “to continue expanding in key, high-value areas such as digital services, including big data, artificial intelligence, digital customer engagement, in particular Salesforce.com, IoT, cybersecurity, cloud and the managed services provided by our Services Operation Center (SOC). Thanks to the support of Apax, we are able to imagine reaching earnings of a billion Euros, a goal which would put us amongst the most important IT players in Europe.”
In the near future, Lutech Group will be watching with particular interest the Piano Nazionale di Ripresa e Resilienza (Pnrr) recovery plan launched by the Italian government, considering it not only an enormous economic opportunity, but also a concrete possibility to play a leading role in the recovery of our country.
“If we want to use a sports metaphor,” Pirovano continues, “we now find ourselves playing in a bigger league, one which is more complex and challenging, but we will approach it with the passion and professionalism of our 2600-strong team. The same characteristics which allowed us to emerge unscathed from the recent period which has put the entire world economy to the test.”
Lutech Group is thus raising the bar in terms of its goals and ambitions.
The future strategy involves, as well as robust organic growth, M&A operations aimed at reinforcing the company’s already impressive presence in six sectors (finance and insurance, PA, telco & media, energy & utilities, manufacturing, fashion and retail), with a particular focus on manufacturing, cybersecurity and cloud computing. It is also the Group’s intention to develop local activities, such as those of Cagliari, the new premises brought online thanks to the merger with BeeToBit, to expand the company’s presence throughout the Italian peninsula and in specific regions of Europe.
As well as developing a technology offering which is always in keeping with the requirements of the market of reference, Lutech Group also intends to increase its human capital, continuing to search for and hire new talent in Southern Italy as well, for example in the Apulia region, which we are looking at with particular interest.
The first concrete demonstration of Lutech’s new path is the company’s decision to transfer its headquarters from Cologno Monzese to Cinisello Balsamo (Milan), in the area which already houses the Service Operations Center and Next Gen Security Operations Center. New premises, symbolic of the beginning of a new path, which has been designed to allow a safe return to work, with new flexible and smart working methods.
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