(Tiper Stock Exchange) – Antares Visiona company listed on Euronext STAR Milan and active in the sector of product quality control and traceability, has signed a binding agreement for the purchase of 30% of the Spanish company PYGSA through a capital increase and an outlay of 0.55 million euro. Simultaneously, the Italian company signed an agreement for the exclusive distribution of its solutions in Spain, in all the reference sectors (Life Science, Cosmetics, Food & Beverage) and in Portugal for Food & Beverage only.
Present in all reference sectors of Antares Vision Group, PYGSA has developed specific know-how for the design and production of inspection systems for quality control, traceability solutions, software solutions for measuring efficiency and related integrations. In 2021, PYGSA, which employed 72 people, recorded a sales equal to 7.5 million euros and a Adjusted EBITDA equal to 0.6 million euros.
“PYGSA represents a valuable opportunity both as an investment and as a direct expansion into the Spanish market for the distribution of our solutions: we consolidate and strengthen our presence in strategic markets, with the immediate acquisition of market shares – he declared Emidio Zorzellapresident and CO-CEO of Antares Vision – Furthermore, we can support our customers with innovative solutions, accurate and fast local technical support and service”.
The acquisition is entirely financed with available liquidity. Starting from 2024 and with the approval of PYGSA’s annual financial statements, Antares Vision will have the right for three years to exercise call option on the remaining 70% of the share capital. The price of the call option will be determined on the basis of a valuation of the Company equal to EBITDA x6 – NFP.