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Antares Vision — M&A Activity 2023
Mar 1, 2023
4255_rns_2023-03-01_6fec7550-4974-44d1-b70d-017062b89aa0.pdf
M&A Activity
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PRESS RELEASE
ANTARES VISION GROUP FINALIZED THE ACQUISITION OF 30% OF PYGSA
Travagliato (Brescia), 1 March 2023 – Antares Vision Group, a leading global provider of hardware and software Track & Trace solutions and one of the major players in inspection systems and smart data management, announces that it has finalized today, through its subsidiary FT System, the acquisition1 of 30% of PYGSA Sistemas Y Applicaciones SL ("PYGSA"), by a capital increase and an outlay of €0.55 million.
As previously communicated, AV Group also signed an agreement with the Spanish company for the exclusive distribution of its solutions in Spain, in all relevant sectors (Life Science, Cosmetics, Food & Beverage) and in Portugal for Food & Beverage only.
Founded in 2008 by two partners with over 20 years of extensive experience in product inspection technologies for quality control, PYGSA, based in Valencia, is currently wholly owned by Guillermo Jose Gimeno, one of the two founders. PYGSA is comprised by three companies: Sistemas Tecnicos de Vision S.L., specialised in visusal inspection technologies and accessories for Food & Beverage lines; Investigaciones Y Control s.l.u., active in control and traceability systems for the pharmaceutical industry; Talleres Ferragut S.L., operating in industrial automation systems and conveyors for high-speed lines. With a significant number of customers in all the core sectors of Antares Vision Group, PYGSA developed a specific know-how for the design and production of quality control inspection systems, traceability solutions, efficiency measurement software solutions and related integrations. In 2021, PYGSA, with 72 employees, recorded a turnover of €7.5 million and an Adj. EBITDA of €0.6 million.
The acquisition will be entirely funded by available liquidity. Antares Vision Group was assisted by Orsingher Ortu - Avvocati Associati and Maio (legal consultants) and by EY (financial due diligence).
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ABOUT ANTARES VISION GROUP
Antares Vision Group is an outstanding technology partner in digitalization and innovation for enterprises and institutions, guaranteeing the safety of products and people, business competitiveness and environmental protection. Antares Vision Group is a technological enabler of supply chain transparency and of sustainable transition, to protect business competitiveness and the uniqueness of each country. It provides a unique and comprehensive ecosystem of technologies to guarantee product quality (inspection systems and equipment) and end-to-end product traceability (from raw materials to production, from distribution to the consumer), with integrated data, production and supply chain management, also achieved through the application of artificial intelligence and the use of blockchains. Antares Vision Group is active in the Life Science sector (pharmaceutical, biomedical devices and hospitals), in the beverage, food and cosmetics industries, and has potential in other sectors. The world leader in Track&Trace systems for pharmaceutical
1 Please see Antares Vision Group's press release issued on 09 February 2023.
PRESS RELEASE
products, it provides the major global manufacturers (over 50% of the top 20 multinationals) and numerous government authorities with solutions to monitor their supply chains and validate product authenticity. Listed since April 2019 on the Italian Stock Exchange in the AIM (Alternative Investment Market) segment, and from 14 May 2021 in the STAR segment of the MTA (Electronic equity market), Antares Vision Group recorded a turnover of Euro 162 million in 2020, operates in 60 countries, employs around 1000 people and has a consolidated network of over 40 international Partners. Further information please visit www.antaresvision.com and www.antaresvisiongroup.com.
Further information:
Issuer
Antares Vision Group Alessandro Baj Badino Head of Investor Relations +39 030 72 83 500 [email protected]
Davide Antonioli Investor Relator Tel.: +39 030 72 83 500 [email protected] Press contacts Axelcomm Federica Menichino Cell. +39 3496976982 E-mail: [email protected]