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Nice Footwear — M&A Activity 2018
Jul 31, 2018
4155_tar_2018-07-31_615f3eab-a71d-4947-94fa-65b48d50d139.pdf
M&A Activity
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| Informazione Regolamentata n. 0809-63-2018 |
Data/Ora Ricezione 31 Luglio 2018 17:53:03 |
MTA - Star | |
|---|---|---|---|
| Societa' | : | NICE | |
| Identificativo Informazione Regolamentata |
: | 107000 | |
| Nome utilizzatore | : | NICEN03 - Biasini | |
| Tipologia | : | 2.2 | |
| Data/Ora Ricezione | : | 31 Luglio 2018 17:53:03 | |
| Data/Ora Inizio Diffusione presunta |
: | 31 Luglio 2018 17:53:04 | |
| Oggetto | : | Nice acquires V2, an Italian company that leads international markets in solutions for Home Automation and industrial applications |
|
| Testo del comunicato |
Vedi allegato.
Nice acquires V2, an Italian company that leads international markets in solutions for Home Automation and industrial applications, consolidating its global leadership in Home Automation, Home Security and Smart Homes
The Italian multinational company continues on its path of international expansion and extension of the product portfolio, positioning itself among the top players in the world by the breadth of the solutions offered in the Smart Home segment
Oderzo (TV - Italy), 31 July 2018 - Nice S.p.A., the Italian international reference firm in Home Automation and Home Security, grows in the Home Automation sector, acquiring V2, Italian excellence that since 1985 has been designing and offering integrated solutions for home automation and industrial applications.
Headquartered in Piedmont in Racconigi (province of Cuneo) and foreign branches, V2 is an ever-expanding international company that embraces the concept of technological innovation in all its forms, offering a complete range of automation systems for gates, garage doors, shutters, sliding doors, road barriers, interior blinds, awnings and shutters.
Quality, safety and reliability are the distinctive features of V2 solutions, carefully designed to make people's everyday movements simpler. V2 adds value to the work of professionals with tools via apps for smartphones and tablets, available on the App Store and Google Play Store, which allow managing, controlling and configuring remotely installation parameters and firmware updates, intuitively and quickly.
With a turnover of around Euro 30 million in 2017 and an export accounting for about 90% in foreign countries such as France and Spain, the V2 brand is spread in over forty countries of the world and includes prestigious references such as the New York Times Building: the skyscraper designed by architect Renzo Piano, home of the famous newspaper, has chosen the Italian excellence of V2 quality products for the automation of indoor vertical blinds, contributing to optimizing the management of natural light, heat, external views and privacy.
"We are pleased to announce this new deal for the Group," commented Lauro Buoro, founder and Chairman of Nice S.p.A., "which allows us to continue on our path of organic growth and acquisitions, offering one of the most complete ranges of cutting-edge and integrated solutions for Home Security and the Smart Home, while maintaining control and growth in the Home Automation sector, to which the acquisition of V2 is intended. Today, the presence of V2 in the companies of the Nice Group, allows us to have a portfolio of automation products that are among the widest in the world".
The President of V2 S.p.A., Antonio Livio Costamagna, declares: "We are pleased to be part of a strong Group like Nice, characterized by its ability to grow in expanding foreign markets. This deal will allow us to broaden our horizons thanks to technological and commercial synergies, always taking at the centre stage professional customers to offer users of our systems the emotion of a home and a welcoming, protected and accessible work environment".
On the basis of the agreements reached, Nice S.p.A. acquired the entire share capital of V2 S.p.A., indirectly acquiring its subsidiaries as well. The deal resulted in the payment, today, of Euro 21.7 million, determined also considering the company's current financial debt of about Euro 3.3 million take charge by Nice S.p.A. The acquisition is financed through equity and partly through lines of credit already available to Nice S.p.A.
In 2017, V2 reported consolidated revenues of approximately Euro 29,719 thousand, with consolidated EBITDA of approximately Euro 4,069 thousand.
The Nice Group, which has production and distribution facilities and research and development centres in more than 20 different countries, with a headcount in 2017 of more than 1,500, 2017 consolidated turnover of Euro 325 million and adjusted EBITDA1 of Euro 52.4 million, helps spread awareness of Italian excellence in more than 100 countries worldwide, which have chosen high quality home automation solutions that masterfully combine technology, design, innovation and ease of use. Nice has also recently acquired Abode Systems, Inc., an American company specialized in offering smart solutions for Home Security and integrated Home Automation; ACM, Italian excellence in the offer of solutions for the automation of rolling shutters, blinds and awnings; FIBARO, a multinational company in the Smart Home sector, with a true wireless and modular ecosystem for a connected, controlled home.
Nice S.p.A. was assisted with closing by euroMerge for the financial matters and by lawyer Dario Picone of CMPLaw for all legal aspects. Oaklins Arietti team acted as V2's financial advisor and Studio Musumeci, Altara, Desana e Associati on legal matters.
The acquisition is considered as "non-significant" under the terms of article 71 of the Issuers' Regulation and the criteria pursuant to Annex 3B of said Issuers' Regulation.
1 The 2017 results have been restated considering the non-recurring expenses related to the relocation of the production facility in Germany of approximately Euro 1 million and related to restructuring of operations in Italy and the USA of approximately Euro 0.9 million.
Nice S.p.A.
Established in the early 1990s and listed on the STAR Segment of Borsa Italiana, Nice S.p.A. is international reference company in the Home Automation, Home Security and Smart Home sector, with a comprehensive offering of integrated automation solutions for gates, garage doors, solar shading systems, parking systems, wireless alarm systems and home security, for residential, commercial and industrial buildings. The Nice Group has launched a strategic plan for geographic growth and the extension of its product portfolio and connected platforms, in order to offer a wide range of customisable, user-friendly options for the end user. It is also seeking to strengthen and expand on markets with high growth potential, enhancing and renewing its branding to compete on new market segments. Nice exports its products, which combine technological innovation and design, generating international revenues of Euro 325 million in 2017, more than 90% of the Group's consolidated total.
V2 S.p.A.
Founded in 1985 with headquarters in Racconigi in the province of Cuneo, Italy, V2 is an international player with foreign branches in Spain, Portugal, France, Romania, China, Morocco, Tunisia and Poland that embraces the concept of technological innovation in all its forms, offering a complete range of automation systems for sliding and swing gates and swing doors, garage doors, shutters, sliding doors, road barriers, interior blinds, awnings and shutters, for residential and industrial applications. www.v2home.com
Nice S.p.A. - Investor Relator: Nicola Biondo, tel.: +39 0422 505 468 [email protected]
Nice S.p.A. - Press Office: Elisa Chies, tel.: +39 0422 505 406 [email protected]
Ogilvy: Gennaro Nastri, tel.: +39 331 2333148 [email protected]