Precia Molen — M&A Activity 2023

Mar 27, 2023

Precia Molen announces the acquisition of Tess Assured

(New Zealand)

Privas, March 27, 2023 - Precia Molen Group, world leader in industrial and commercial weighing, announces that it has signed the acquisition of 90% of the shares of Tess Assured in New Zealand, thus confirming the Group's interest for the Asia-Pacific region and New Zealand in particular.

Founded in 2015 by Nigel Dacre, Tess Assured is New Zealand's largest independent weighbridge, hopper and high-capacity loader inspection specialist.

With proven expertise and a loyal client base throughout the country, Tess Assured is recognized as the leader in certification, a mandatory element in the users' business practice. In 2022, the company has achieved a turnover of approximately 350,000 euros.

Nigel Dacre will continue to act as Managing Director of the company and will retain a 10% stake.

"One year after the acquisition of Scaletec, which specializes in the sale and service of industrial weighing instruments, Precia Molen wants to strengthen its position in New Zealand, an extremely promising market for establishing its presence in the Asia-Pacific region. By relying on strong local companies and recognized entrepreneurs such as Nigel Dare and Tess Assured, Precia Molen continues to develop regionally throughout the world", says Frédéric Mey, Chairman of the Board of Precia SA.

This acquisition strengthens Precia Molen New Zealand's certification business through Tess Assured's involvement with the Weighing Machine Association NZ and the Trading Standards developed by the New Zealand Department of Business, Innovation and Employment.

About PRECIA MOLEN

PRECIA MOLEN designs and manufactures, sells and maintains systems and solutions of industrial and commercial static weighing and of continuous weighing and dosing equipment. Main clients are heavy industries (mines, quarries, steel, environment, energy…) and light industries (food, chemicals, transportation and logistics…) and also public sectors (posts, local authorities…).Formed in 1951, and based at Privas in Ardèche, PRECIA MOLEN is now present in all five continents, serving the needs of its customers locally. The group has nine production sites around the world, with over 1350 employees altogether.

PRECIA MOLEN is listed on NYSE-Euronext Paris compartment B (code ISIN FR0014004EC4 - Mnemo: PREC).

Press contact:

Agence Yucatan

01 53 63 27 27 Nicolas Moutier - Jean-Alexis Bourgier nmoutier@yucatan.fr – jabourgier@yucatan.fr