January 14th, 2019 | Press Releases

Ambienta portfolio company Safim among the first companies in Europe to be awarded the new Occupational Health & Safety standard

by Ambienta

Modena, Milano 14 January 2019 – Ambienta SGR, Europe’s largest sustainability focused Private Equity investor, is pleased to announce its portfolio company Safim S.p.A. is one of five companies in Italy, and among the first 100 companies in Europe to be awarded the new Occupational Health & Safety standard ISO 45001, with TÜV certification.

According to the International Labour Organisation over 7,600 people die every day from work-related accidents or diseases, with the burden of occupational injuries and diseases being significant, both for employers and the wider economy (reference). ISO 45001 was developed in 2018 with the goal of providing employers with a framework to improve employee safety, reduce workplace risks and create better, safer working conditions.

The prestigious certification comes following Ambienta’s effort to achieve a transformational change in the capabilities and standards of the company over the last 15 months, as Pietro Santoro the newly installed CEO, works closely with the founding Mamei family to transition Safim to the next stage of its growth story. This recognition highlights the success and capability of Ambienta’s proprietary programme ‘ESG in Action’, integrating responsible investment factors on Environmental, Social and Governance issues into daily operations.

These efforts comprised several initiatives; the introduction of integrated production planning to achieve 100% raw material availability, established world class manufacturing program to reach over 90% operational efficiency and reduced backlog on deliveries by 90%. Furthermore, Ambienta strengthened the organizational structure through several actions; reinforced the vision and direction of the business with a new CEO, CFO and independent board member, reshaped the organizational structure by developing clear roles and accountability, and implemented a new performance-based incentive system involving c. a quarter of employees.

These organisational advancements were complemented with initiatives aimed at improving the private lives of Safim’s employees, including sponsoring and subsidising summer camps for employees’ children and supporting the local parish church on multiple initiatives in an underdeveloped area of Modena.

Ambienta’s initiatives resulted in unlocking Safim’s manufacturing capacity with daily delivery of its energy- efficient hydraulic components growing by over 100% in the last 12 months (at almost no Capex), revenues growing from €28ml in 2016 to over €50ml in 2018, workforce growth by over 50% as of December 2018 and growing profitability. Environmental KPIs such as the consumption of gas and water per man-hour also improved by 30% in the last 12 months.

Francesco Lodrini, Partner at Ambienta, said “We are delighted that Safim has been recognised in this way. Since our investment into the business, we have worked closely with management and employees to ensure the business progresses to the next stage in its growth story. This recognition further validates that our ‘ESG in Action’ programme truly drives performance and financial returns.”