(Tiper Stock Exchange) – Esautomotiona company listed on Euronext Growth Milan and active in the industrial automation sector, ha completed the acquisition of the company branch constituted of the activities organized for the exercise of the production and development of electric motors of Sangalli Servomotori. In particular, the purchase of 65% of the share capital of a newly established company, Sangalli Servomotori Srl (formerly Sangalli Motori Srl, NewCo), to which the company branch was transferred, was completed.
The total consideration for the purchase of the entire share capital of NewCo is equal to a total of 10 million euros, from which any positive net financial position (net financial debt) of NewCo as at 7 July 2023 must be deducted.
The consideration for the sale of the initial stake, subject to adjustment mechanisms, is equal to 6,448,803.82 euros and was paid: partly in kind, or in 170,000 shares of Esautomotion for a total value of approximately 1,020,0001 euros; partly in cash, by bank transfer to a restricted current account to guarantee the correct fulfillment of the price adjustment procedure, for a countervalue of 500,000 euros, and to a current account in the name of the seller in immediately available funds, for a total countervalue of 4,928,803.82 euros.
“The acquisition of the Sangalli business represents a further evolution and acceleration in the growth process of Esautomotion – commented theCEO Gianni Senzolo – The CNC product (numerical control), in its technological evolution requires more sophisticated and performing electric motors, often specifically designed for a specific application. Sangalli’s know-how will therefore allow the group to include cutting-edge systems in its range of products in the new, constantly evolving markets of automation and high-performance and green electric motors”.