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Interpump Group — M&A Activity 2019
Feb 25, 2019
4294_tar_2019-02-25_a0969d3c-8eeb-49d7-9d6d-57c13e19feb5.pdf
M&A Activity
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| Informazione Regolamentata n. 0159-7-2019 |
Data/Ora Ricezione 25 Febbraio 2019 15:00:12 |
MTA - Star | ||
|---|---|---|---|---|
| Societa' | : | INTERPUMP GROUP | ||
| Identificativo Informazione Regolamentata |
: | 114310 | ||
| Nome utilizzatore | : | INTERPUMPN03 - MIRABELLI | ||
| Tipologia | : | REGEM | ||
| Data/Ora Ricezione | : | 25 Febbraio 2019 15:00:12 | ||
| Data/Ora Inizio Diffusione presunta |
: | 25 Febbraio 2019 15:00:13 | ||
| Oggetto | : | Interpump Group acquires Hydra Dyne Tech (Canada) |
||
| Testo del comunicato |
Vedi allegato.
PRESS RELEASE
INTERPUMP GROUP ACQUIRES HYDRA DYNE TECH IN CANADA
Sant'Ilario d'Enza (RE), 25 February 2019 – Interpump Group announces it has signed a binding agreement for the acquisition of a control stake of the Canadian company HYDRA DYNE TECH, headquartered in Ontario.
The company produces and sells hydraulic cylinders, valves and rotary manifolds, using the proprietary patented LocSealTM technology which represent a significant technical innovation. Its products are designed and customized according to the needs of some of the largest OEMs in the agricultural machinery, earth moving, and forestry sectors.
Rotary manifolds, in which Hydra Dyne Tech is recognized as an authority, represent a significant extension of Interpump's range of hydraulic components.
Hydra Dyne Tech closed the FY on 31/8/2018 with 35.8 million in sales and an EBITDA of 6.1 million, with a net financial position of 7.2 million (all figures expressed in CAN\$). Interim data for the first half of FY 2019 point to an increase of about 20%.
Founder Steve Bohner will stay at the helm of the company as CEO.
The agreed price for the acquisition of 75% is equivalent to 15.2 million Euro; Put and Call options have been agreed upon for the transfer of the minority share starting from 2023. Closing of the acquisition is expected within the next weeks.
Interpump Group Chairman Fulvio Montipò commented "This is another important tile in our expansion strategy for North America, which already plays a primary role in the global scope of the Group's activities".
Media Relations: Investor Relations: Moccagatta Associati Luca Mirabelli Tel. +39-02 8645.1695 Tel. +39-0522-904433 [email protected] [email protected]