Fimag S.p.A. has completed the transfer of 80% of it subsidiary Teuco S.p.A. to Certina Holding AG.

The Guzzini family continues to hold a portion of Teuco, confirming its interest in the company and its future.

The firm founded in 1972, a historic brand in the high-end bath furnishings sector, reported sales of about 40 million euros in 2014.

The goal of the operation is to relaunch Teuco on the market, guaranteeing continuity and making the company one of the most important players in the sector on an international level.

Certina Holding AG is a holding company that invests in industrial firms, based in Munich and operating since 1996 through acquisitions of medium-sized businesses. Certina, specializing in restructuring operations, will implement its industrial plan to revitalize the historic Marches-based firm.