Fulgard Boosts Safety Portfolio with 16 Acquisitions in Four Years
Deal News | Dec 17, 2024 | RWB Group AG
RWB Group AG's portfolio company, Fulgard, formerly known as Sicura, has achieved a significant exit under its partnership with Argos Wityu. Over the four-year alliance, Fulgard enhanced its market footprint through 16 strategic acquisitions, reinforcing its leadership in the workplace safety and health sector. Originally based in Vicenza, Italy, Fulgard offers integrated services ranging from fire protection to occupational health consultancy, with an expected revenue of over €117 million and EBITDA of approximately €22 million by 2024. The company successfully integrated new acquisitions and underwent a rebranding, trebling both revenue and EBITDA. The divestiture resulted in a cash return of around €2.5 million to multiple RWB funds, marking a noteworthy achievement. Argos Wityu contributed to Fulgard’s growth by strengthening central functions and expanding the sales organization to leverage cross-selling opportunities. Notable acquisitions of CDS and Igeam bolstered Fulgard's market dominance and service portfolio.
Sectors
- Occupational Safety and Health
- Private Equity
Geography
- Italy – Fulgard is headquartered in Vicenza, Italy, and has expanded its presence nationally with several acquisitions.
Industry
- Occupational Safety and Health – Fulgard operates in this industry by providing fire protection, machinery safety, and occupational health advice.
- Private Equity – Argos Wityu is a key participant in this sector, being involved in managing and exiting investments in companies like Fulgard.
Financials
- 2.5 million Euro – Cash return to RWB International and Direct Return funds from the sale of Fulgard.
- 117 million Euro – Expected revenue of Fulgard in 2024.
- 22 million Euro – Expected EBITDA of Fulgard in 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fulgard | Target Company | Company | An Italian company specialized in workplace safety services, formerly known as Sicura. |
| Argos Wityu | Seller | Company | Private equity firm that held investment in Fulgard and managed its exit strategy. |
| RWB Group AG | Investor | Company | Acts as the Private Equity Manager through which RWB funds received returns from the sale of Fulgard. |
| CDS | Acquisition | Company | One of the companies acquired by Fulgard in 2023 to strengthen its market position. |
| Igeam | Acquisition | Company | Another significant acquisition by Fulgard planned for 2024. |