A look at Fenty Beauty's fall 2018 Moroccan Spice collection.

MILANFondo Strategico Italiano has invested 70 million euros in Lumson, an Italian company that produces beauty packaging.

The deal was signed by the Moretti family, who founded Lumson in 1975, and FSI Mid‐Market Growth Equity Fund, FSI’s new fund aimed at supporting leading Made in Italy companies with growth potential and seek to expand into international markets.

Following the operation’s closing, the Moretti family will retain a 65 percent share in Lumson, while FSI will control the remaining 35 percent through a capital increase and a convertible bond loan. Paolo Valsecchi will be named chief executive officer of Lumson.

“I’m extremely happy to announce this partnership with FSI, a patient institutional fund with Italian heart and brain, as well as international muscles,” said Lumson president Matteo Moretti.

“This investment will provide Lumson with the fuel to boost its further growth, driven by innovation, as well as research and development. The Moretti family is extremely satisfied and proud and we feel a bigger responsibility as entrepreneurs working at the core of Lombardy’s beauty business. Our sector is the one [that] has registered the biggest growth in terms of revenues from 2008 to 2016 and it exports 42 percent of its production.”

In 2018, Lumson, which produces the packaging for major international beauty players, including L’Oréal, Sephora, Estée Lauder, Collistar and Fenty Beauty, registered revenues of 100 million euros. The company exports 70 percent of its Made in Italy production and operates commercial divisions in the U.S., France, Spain and Germany. Last year, the company acquired lipstick specialist Leoplast.

“The partnership with the Moretti family is a perfect example of the mission of FSI, which aims to invest in companies guided by an entrepreneurial family with a solid track record, a long-term vision, focused on the growth of the company and without financial leverage,” said FSI chief executive officer Maurizio Tamagnini.

“With the investment in Lumson, FSI participates in the development and consolidation of the Italian beauty sector, which represents a global excellence in a constantly growing market, which, only considering packaging, is valued at seven billion euros in Europe and North America.”

Last June, FSI acquired a 41.2 minority stake in the Missoni luxury label.