MILAN, June 26 (Class Editori) -- Salcef Group scores the acquisition of Colmar Technik, a company specializing in the manufacture of machinery for the construction and maintenance of railway lines. The preliminary agreement calls for Salcef to acquire 100% of the share capital of Colmar, which operates plants in Arquà Polesine and Costa di Rovigo. Closing of the transaction is subject to successful completion of the due diligence process.
The details of the deal
Salcef estimates that Colmar will bill 20 million a year post-acquisition, with profitability margins in line with the rest of the Group. The target company employs 110 people and has a backlog of outstanding orders exceeding 40 million. The transaction values Colmar Technik with an enterprise value of 25 million euros. The payment will take place in two stages: the first involves a payment of 2 million euros and was concluded when the preliminary agreement was signed. The latter, the amount of which will remain unknown for the time being, will be realized upon the closing of the transaction, which Salcef expects by August and subject to the due diligence process. The Group's own funds were used for the transaction.
The management's comment
"We believe that today's acquisition has a strong strategic value for the Group, not only because it is a further step in our path of growth by external lines, but also because it is the first in the railway machinery segment, where the Group already operates with its subsidiary SRT," Gilberto Salciccia, Executive Chairman of Salcef Group, stated. "The integration of the newly acquired company will allow us to broaden the product range of the Railway Machines business unit, both for internal and external use, as well as to exploit the commercial synergies deriving from Colmar's capillary international network through its offices in the UK, the US, Russia, China, and Colombia".
(Source:Class Editori)
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