La Spezia (Italy), 26th October 2021

Today the Carabelli family announces the sale of 100% of the shares of IGM S.r.l. to Sirail Group and the reinvestment in Sirail Group as a minority shareholder (“Transaction”). IGM S.r.l. ( is an Italian company founded in 1992 in Follo (La Spezia) and specialized in the design and production of electromechanical and electronic equipment mainly intended for the railway market.

IGM has production sites in Italy and Poland and it is recognized in the railway market for its know-how in mechanical, electrical and electronic design.
Sirail Group ( is a French family company – leader in Europe – specialized in rolling stock cabling products.

IGM continues its path of internationalization and growth, due to the synergies arising from the merge with an important industrial partner, already present in many countries (France, Morocco, Germany, Tunisia, Slovakia). In the past, Sirail Group has proved its capability to merge with new companies, while maintaining their specificity and identity.

Sirail Group extends the scope of its activities in Italy and in Poland, and confirms its ambition to develop a know-how in electrical and mechanical design for the railway market. Moreover, the companies are highly complementary and together will seize new opportunities in the European market.

The Carabelli family has been assisted by Corus Corporate Finance as financial advisor, by Bellora & Associati for the legal aspects and by CLA Consulting for the tax and accounting aspects.

Sirail Group has been assisted by Ughi e Nunziante, Pichard & Associés and De Gaulle Fleurance & Associés for the legal aspects and by Accuracy for the acquisition financing and the financial due diligence.

Olivier Piganeau, CEO of the Sirail Group: “It is a wonderful opportunity for Sirail to integrate the complementary know-how of IGM, and its design capabilities. We will also bring Sirail’s know-how to the historical customers of IGM, and all the customers of Sirail Group will benefit from IGM’s design capabilities. There are breath-taking opportunities for growth for the newly extended Sirail Group in the dynamic Italian market where we were not yet present.”
Marco Carabelli, CEO of IGM: “We are very pleased to join Sirail Group which is a recognised major player on the European market, and to participate to this new adventure as a minority shareholder of Groupe Sirail. Our combined forces will enable us to increase our customers’ satisfaction, a common goal that is shared with Sirail.”

About IGM :
IGM is a private family-owned company founded in 1992 in Follo by the Carabelli family. Year after year, IGM has acquired strong know-how in mechanical and electromechanical design and prototyping for the defense and transport sectors.
With more than 20 years of experience, IGM specialises in the railway market and to better support its client’s needs, it has created a production site in Poland. The main products are electric cubicles, driver desks components and driver desks plug & play.
IGM has developed strong know-how in electrical, electromechanical and electronical engineering, which have enabled this family-owned Italian company to have a strong foothold in Italy but also with the major players of the railway industry, and of the defence industry.

The production sites cover a total of about 5,000 square meters (Italy and Poland). These capacities enable IGM to undertake the demanding challenges of designing and industrialising products for its European customers.
IGM has a turnover of more than 20 million euros, with an order book of several years of production, and lots of potential for growth.

About Sirail:
Sirail was founded in 2007. It is a French family-owned company specialised in the manufacturing of electrical harnesses for the railway market.
Sirail has grown quickly by the acquisition of Sicor (Tunisia) in 2015, then of Confecta (Germany) in 2016 and finally Liatech (France and Morocco) in 2017. In 2016, Sirail has also extended its production capacities through the creation of a production site in Slovakia. This French intermediate-size family-owned company has demonstrated its dynamism to adapt its technical offers and production capabilities to respond to its customers’ – which are major players in the railway, military and medical industries – needs.
Taking advantage of its technical expertise and its industrial excellence, Sirail has become a European leader and one of the major actors of its market.
Its industrial sites, located in France (Crespin, in the North of France, and La Canourgue, in the South), in Germany (Berlin area), in Tunisia (Tunis), in Morocco (Casablanca) and in Slovakia (Prakovce) enable the group to offer competitive technical and operational capacities, and a demanding market.
Today, Sirail has more than 1,000 employees, located in 5 countries and a turnover of over 70 million euros.