Editorial image of a steel and glass atrium at blue hour

GUM GROUP S.p.A. / INDUSTRIAL INVESTMENT COMPANY

CAPITAL.
INDUSTRY.
VALUE CREATION.

GUM invests in businesses across sectors and works with their leadership teams on governance, operations and growth.

CAPITAL · GOVERNANCE · EXPERTISE · EXECUTION

CAPITAL · GOVERNANCE · EXPERTISE · EXECUTION

MILAN · LUGANO · MADRID · BOSTON · SÃO PAULO

MILAN · LUGANO · MADRID · BOSTON · SÃO PAULO

OUR PURPOSE

MISSION.

We invest in selected businesses and support their growth through active governance and hands-on operational work.

VISION.

We aim to build an international investment group with the operating expertise to help its companies expand into new markets.

We aim to build an international investment group that helps businesses grow across sectors and markets.

01 / PROVEN PERFORMANCE

PROVEN TRACK RECORD.

Profitable growth translated into shareholder value.

01 / 03

TAS GROUP

RETELIT

EXPERT.AI

01 / 03 · TAS GROUP · 2016–JAN 2022

TAS GROUP

TAS GROUP

TAS GROUP

€0.25 → €2.20 per share

€0.25 → €2.20 per share

€0.25 → €2.20 per share

Revenue €41.5m → €56.4m · 2016–2021

Revenue €41.5m → €56.4m · 2016–2021

Revenue €41.5m → €56.4m · 2016–2021

02 / 03 · RETELIT · 2015–2021

02 / 03 · RETELIT · 2015–2021

RETELIT

RETELIT

RETELIT

€0.592 → €3.10 per share

€0.592 → €3.10 per share

€0.592 → €3.10 per share

EBITDA €7.9m → €34.8m · 2016–2021

EBITDA €7.9m → €34.8m · 2016–2021

EBITDA €7.9m → €34.8m · 2016–2021

03 / 03 · EXPERT.AI · JUL 2023–OCT 2026

03 / 03 · EXPERT.AI · JUL 2023–OCT 2026

EXPERT.AI

EXPERT.AI

EXPERT.AI

€0.77 → €1.67 per share

€0.77 → €1.67 per share

€0.77 → €1.67 per share

Revenue €32.6m → €42.7m · 2023–2025

Revenue €32.6m → €42.7m · 2023–2025

Revenue €32.6m → €42.7m · 2023–2025

TAS GROUP +780%

RETELIT +424%

EXPERT.AI +117%

ONE CONSISTENT APPROACH TO VALUE CREATION.

Share price changes reported in the GUM Group corporate presentation, p. 4. TAS: 2016 to January 2022. Retelit: 2 January 2015 to 30 September 2021. Expert.ai: 5 July 2023 to 6 October 2026. Operating figures refer to the periods shown in each chapter. Historical performance is not indicative of future results.

02 / ACTIVE OWNERSHIP

How active ownership works

  1. Identify

    Find the change worth backing.

    Look for businesses with industrial potential and a concrete opportunity to improve how they operate or grow.

  2. Invest

    Put capital and responsibility together.

    Structure the investment around the opportunity and define the governance role GUM can take.

  3. Transform

    Improve how the business operates.

    Work on the priorities that matter to the company, from management and financial structure to commercial execution.

  4. Scale

    Expand what works.

    Support organic growth, acquisitions and international expansion where they make sense for the business.

  5. Realise value

    Choose the right long-term outcome.

    Assess the path that fits the company, from continued ownership to a strategic sale, private capital or a potential listing.

03 / PORTFOLIO BY SECTOR

Explore the portfolio by sector

Choose a sector to see what its companies do and explore their profiles.

AI-generated editorial illustration of an analyst reviewing business documents with enterprise software

Enterprise AI and the infrastructure behind it

Enterprise AI for complex documents and the infrastructure behind critical workloads.

Language technology and enterprise AI

Data centres, cloud and AI infrastructure

AI-generated editorial illustration of an analyst reviewing business documents with enterprise software

Enterprise AI and the infrastructure behind it

Enterprise AI for complex documents and the infrastructure behind critical workloads.

Language technology and enterprise AI

Data centres, cloud and AI infrastructure

EXPLORE CAPITAL AT WORK →

INVESTMENT PLATFORMS

Origine Growth PE focuses on helping Italian companies grow and consolidate their markets. GCA brings together fundraising and selected investment opportunities in the real economy.

INVESTMENT PLATFORMS

Origine Growth PE focuses on helping Italian companies grow and consolidate their markets. GCA brings together fundraising and selected investment opportunities in the real economy.

ADDITIONAL STRATEGIC POSITIONS · LUDALBE · ALBEN

04 / INVESTMENT STORIES

AI-generated editorial illustration of an analyst reviewing business documents with enterprise software

EXPERT.AI / OPERATING PERFORMANCE

€42.7m

2025 REVENUE

Up from €32.6m in 2023

AI-generated editorial illustration of an analyst reviewing business documents with enterprise software

EXPERT.AI / OPERATING PERFORMANCE

€42.7m

2025 REVENUE

Up from €32.6m in 2023

EXPERT.AI

Why GUM backed expert.ai

INVESTED IN 2023 · ENTERPRISE AI

GUM saw an opportunity in expert.ai’s language technology and its international customer base. The investment case focused on strengthening governance and the balance sheet, improving operations and supporting expansion.

AI-generated editorial illustration of an analyst reviewing business documents with enterprise software

EXPERT.AI / OPERATING PERFORMANCE

€42.7m

2025 REVENUE

Up from €32.6m in 2023

EXPERT.AI

Why GUM backed expert.ai

INVESTED IN 2023 · ENTERPRISE AI

GUM saw an opportunity in expert.ai’s language technology and its international customer base. The investment case focused on strengthening governance and the balance sheet, improving operations and supporting expansion.

PAYGLOBE

Building PayGlobe inside GUM

IN-HOUSE INITIATIVE · DIGITAL PAYMENTS · MERCHANT SERVICES

GUM developed PayGlobe in-house around the needs of merchants accepting digital payments. The business grew into an Italian payments platform serving merchants in-store and online. It shows how GUM can build an operating business from an internal initiative.

Retail payments image from the PayGlobe Grandi Aziende page

PAYGLOBE

Building PayGlobe inside GUM

IN-HOUSE INITIATIVE · DIGITAL PAYMENTS · MERCHANT SERVICES

GUM developed PayGlobe in-house around the needs of merchants accepting digital payments. The business grew into an Italian payments platform serving merchants in-store and online. It shows how GUM can build an operating business from an internal initiative.

Retail payments image from the PayGlobe Grandi Aziende page

05 / INTERNATIONAL FOOTPRINT

Our international footprint

05 LOCATIONS / 03 REGIONS

Europe and the Americas

06 / LEADERSHIP

Dario Pardi

Executive Chairman & CEO · GUM Group

Dario Pardi — portrait from the GUM corporate presentation

06 / LEADERSHIP

06 / LEADERSHIP

Dario Pardi

Dario Pardi

Executive Chairman & CEO · GUM Group

Dario Pardi brings over four decades of experience in technology, financial services and business transformation. At GUM, that experience informs how the group invests and what it does after investing, from taking an active role in governance to supporting the teams that run the business.

07 / AN INTEGRATED INVESTMENT COMPANY

CAPITAL + ACTIVE GOVERNANCE + OPERATIONAL EXPERTISE + EXECUTION

For enquiries about GUM Group, its companies or its investment platforms, contact our team.

GUM Group

CAPITAL. INDUSTRY. VALUE CREATION.

GUM GROUP S.p.A.

MILAN · LUGANO · MADRID · BOSTON · SÃO PAULO

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