(Finance) – Ilpralisted on Euronext Growth Milan and active in the packaging sector, has signed a binding agreement for the acquisition of 30% of the share capital of MACS. It is a Bologna-based company active in the production and sale of packaging machines, mainly in the food, pharmaceutical and home & personal care sectors, with applications in flexible packaging, in particular for doypack bags and in the packaging of chocolate. Preliminary results as at 31 December 2021 show a production value of approximately 2,130 thousand euros, a EBITDA of approximately 110 thousand euros and one Net financial position (debt) of approximately 1,400 thousand euros.
“The operation is highly strategic for the groupas it allows us to expand the range of products, entering a new and strongly growing market segment, such as that of doypack and flexible packaging “, commented Maurizio Bertocco, president and chief executive officer of Ilpra. The closing of the transaction (carried out exclusively through the use of Ilpra’s own resources) is expected by April 2022.
The operation involves: the purchase of the 10% the share capital of MACS for a consideration equal to 300,000 euros which will be paid as for 250,000 euros in cash at closing and 50,000 euros, again in cash, by 31 December 2022; there subscriptionat the closing date, of a MACS capital increase, entirely reserved for subscription to ILPRA or alternatively to the NewCo, for a total amount of € 500,000, of which € 495,000 as a share premium, against the allocation of a share equal to 20% of the capital of the same.