Tre Zeta Group acquires 100% of Solettificio Do.Gi. S.r.l.

Tre Zeta Group acquires 100% of Solettificio Do.Gi. S.r.l.

Tre Zeta Group, leader in the production of luxury shoe soles for over 50 years, announces the acquisition of 100% of Solettificio Do.Gi., a company specialising in the design and production of insoles for elegant women’s shoes for the world’s leading high-end brands.

Founded in Civitella in Val di Chiana (Arezzo) in 1977 by brothers Domenico and Giovanni Magnanensi, Do.Gi. – now led by the second generation – is one of the leading Italian operators in its segment, serving the most important international luxury brands. Over the years, the company has invested in research and innovation, modernising its production with advanced machinery to support the craftsmanship of its workers, for a high quality finished product customised to customers’ requirements. Thanks to this, Do.Gi., with its current 35 employees, has reached a production of around 1.5 million pairs of insoles. The company ended 2022 with revenues of EUR 7.9 million, up 46% YoY.

With the aim of extending and consolidating this brilliant performance as part of a broader industrial project, the entrepreneurs decided to sell their shares by reinvesting in Tre Zeta Group and maintaining their operational roles.

The transaction is part of Tre Zeta’s plan to build the Group of reference in the production of components for the structure of footwear for the entire global luxury industry, through a process of organic growth and aggregation of realities of excellence. The ultimate objective is the extension of the control and monitoring of the trainer and formal soles supply chain, pooling know-how, production and commercial capacity, and management expertise. This will guarantee the quality of a wide range of components and further shorten response times to customers, with the added advantage for them of having a single integrated interlocutor.

The project, designed by Koinos Capital – an independent asset management company, dedicated to Private Equity activities through closed-end funds, that stands out for its entrepreneurial approach, with investments aimed at transforming small Italian industrial excellences into international leaders – started at the end of 2021 with the fund’s entry into Tre Zeta and is already at an advanced stage of execution just two years later.

Do.Gi. is, in fact, the third acquisition made by Tre Zeta, after Stil Stampi (excellence in the production of aluminium moulds for soles) and Suolificio Magonio (a leading company in soles for the formal world), and brings the Group – which as of October 2023 was already registering an organic YoY turnover growth of 20% – to add to the already 4.5 million pairs of soles produced in a year the production capacity of a further 1.5 million pairs of insoles.

“With the entry of Do.Gi. into the Group, we continue to effectively execute the industrial plan that leads us to be a ‘one stop shop’ interlocutor, capable of providing a high level of service, an ever-increasing number of processes, and a complete range of high quality products for our customers. In Do.Gi. we have found a reality that fully expresses that ability to combine artisan know-how with the technology of state-of-the-art machinery, typical of an entrepreneurial vision that aims at significant growth without compromising on quality. We believe that the company’s entry into our Group will allow us to unleash new synergies and to amplify and consolidate the excellent upward trend in terms of orders and turnover that both Do.Gi. and Tre Zeta recorded in the last financial year. This is another important part of our project and we are actively looking for and evaluating other opportunities for the expansion of the Group” comments Fabrizio Mecheri, CEO of Tre Zeta Group.

Andrea Magnanensi, who is a member of the family that founded and managed Do.Gi. and who will retain operational roles, comments: “We are happy to bring almost half a century of know-how to the Tre Zeta Group and to contribute to the development of a great project. In this transaction we immediately saw an opportunity to grow Do.Gi.’s business exponentially while contributing to the realisation of an ambitious industrial project that, I am sure, is destined to express great market potential”.

Marco Morgese, Founding Partner of Koinos Capital, comments: “This transaction, the third since we joined Tre Zeta, confirms not only the significant development potential of this specific Italian industrial sector, but also the goodness of the vision with which we have accompanied the Group on an important growth path in recent years, as well as the top management’s ability to execute. These were all key elements in the achievement of the first results that saw Tre Zeta Group exceed EUR 76 million pro-forma turnover in 2022. Thanks to the entry of Do.Gi., today the Group further expands its offering and is moving even more rapidly towards the extremely ambitious but clearly attainable goals we have set ourselves”.

1000 594 Koinos Capital

Marco Morgese

CEO & Founding Partner

Professional Experience
Koinos Capital, CEO & Founding Partner | Milan, from 2020
Consilium, Senior Partner | Milan, 2007-2020
Booz Allen Hamilton, Senior Associate | Milan, 1999-2007
Goldman Sachs | Milan, 2002 

IESE Business School, Master of Business Administration | Barcelona
Università Bocconi, Bachelor in Business Administration | Milan