17 March 2023
DOM Security is pleased to announce the acquisition of 100% of the Italian company VIRO via its regional subsidiary, DOM CR.
Founded in 1942 by Vincenzo Rossetti, the VIRO company has been owned since 1955 by the Innocenti family and is located near to Bologna. It is today known as a specialist in locking solutions with a wide range that includes: security padlocks, electric locks, motorbikes and bicycles padlocks, safes and security cabinets. The company employs about 70 people and, in 2022, achieved a turnover of 16M€. Almost 50% of the turnover is generated in Italy with the remainder distributed between Europe, South America and Asia. VIRO also has a significant stake in a subsidiary in South Africa.
This new partnership will enhance our range of solutions for building and industrial applications, strengthen our position in the Italian domestic market and open up opportunities for export.
For Jérôme DENIS, Deputy Chief Executive Officer of DOM Security: "VIRO is a renowned company with real expertise in developing and manufacturing innovative products. Its portfolio is complementary to that of DOM Security, in particular our mechanical security solutions for buildings and industry. Our joint network of partners will strengthen the group's international position. We welcome the VIRO teams to DOM Security.”
Gianfranco DONDARINI, CEO at VIRO, said: "The partnership between DOM Security and VIRO will produce many exciting security products going forward. Joining DOM Security takes our work to a new level, allowing not only for more sophisticated solutions but also new market possibilities that will ensure continuity over time."
VIRO’s Security Padlocks are trusted worldwide as high security locks for buildings and industrial use, and recently the same expertise has been applied to motorcycle and bicycle locks. The range includes mechanical and electric locks, as well as locks for automation. These are supplied to both industrial manufacturers and distributors.
Olena Campos Gomes, Business Unit Director for Buildings Trade at DOM Security, notes, "Through the synergies of DOM Security and VIRO, we have a significant market share and the innovation and technological know-how to expand in this field. I am looking forward to close cooperation with the VIRO team".
The location of VIRO's operations is also geographically important, with its 1700 dealers complementing the existing DOM CR network and reinforcing our presence in the domestic market.
For Fabio Poggioli, DOM Security's Southern Europe Area Director, this represents an exciting opportunity: "I am delighted to be working with VIRO. We have a strong industrial foothold in the region and I'm excited about the prospect of integrating more security solutions. With this consolidation, there is potential together to develop a significant presence in Italy and beyond".
There is an opportunity here, not only locally, but also internationally. A third of VIRO's business is exported outside Europe. This opens up scope for developing new market shares, especially in South Africa, where VIRO's physical presence provides a platform for the African continent, especially for our locking solutions for commercial properties.
Franck Chevalier, Director of Exports and Business Unit Projects, comments: "With VIRO joining our forces, there is a strategic opportunity to accelerate and support our position outside Europe. VIRO has a strong, loyal and long-term presence in geographical locations that complement those of DOM. It's an area where we can work together to make the most of this new partnership".