Norican Group is separating ItalPresseGauss (IPG) from its metalcasting portfolio following a “strategic review,” and will foster a management buyout of the diecasting technology developer. “This strategic move will give IPG more agility, flexibility, and autonomy to drive innovation, accelerate decision-making, and better serve its customers,” according to Norican’s announcement.
However, Norican also noted that Altor Equity Partners will maintain its interest in both businesses. Altor invested in Norican initially in 2014.
ItalPresse Gauss designs, builds, and services design machines and automated work cells for high-pressure, gravity, and low-pressure aluminum diecasting.
As explained by Norican, IPG will “re-center the core of its technological innovation and customer support within the IPG Technology Center in Italy with full responsibility of product technology, application development and sales and service processes.”
"We are excited about this new chapter for IPG," stated Marco Gandini, CEO. "This move is all about being more responsive to our customers and market needs. We believe that by becoming more independent, and with a simplified organization setup, we can continue to innovate and deliver the best possible value to our stakeholders."
Norican Group was formed in 2008 with the merger of Wheelabrator Group and DISA Group. Subsequent additions have included ItalPresseGauss and StrikoWestofen, both in 2016; Monitizer in 2021; and Simpson Technologies in 2022.