CNH Industrial acquires 90% of Sampierana and another 10% within four years for 102 million
Cnh Industrial accelerates in the construction machinery sector. The Italian-American industrial group, already a leader in the production and marketing of agricultural and construction machinery, industrial and commercial vehicles, buses and special vehicles, has finalized the acquisition of 90% of the share capital of the Italian company Sampierana, specialized in the development, production and marketing of earthmoving machinery, undercarriages and spare parts. The aim is to arrive at obtain 100% of the share capital during the four years following the closing of the transaction, expected in the fourth quarter of this year.
The consideration for the acquisition, free of debt and cash, will be equal to 101.8 million euros, subject to certain adjustments at closing and post closing, financed with the liquidity of Cnh Industrial.
“This latest strategic acquisition will further accelerate the profitable growth of our construction machinery business. Sampierana’s outstanding portfolio consolidates our presence in critical market segments and provides our dealers and customers with access to supported industry-leading products. from our brand, our distribution and our manufacturing experience “, he stressed Scott Wine, chief executive officer di Cnh Industrial.
“I want to thank Stefano Pampalone, President Construction, and his team, both for completing this agreement and for the excellent work done in transforming our construction business, scaling down the footprint and bringing it back to profitability – an impressive achievement. given the difficult period “.
Recognized in the construction industry for its line of Eurocomach mini and midi excavators and for special undercarriages, the Sampierana group has recorded excellent performances year after year, particularly in Europe, and is recognized for its reliability, quality and innovative technology. Its broad product portfolio, high customization capacity and existing electric power prototypes fit perfectly with the sustainable and customer-centric approach of Industrial Name and substantially increase the company’s internal supply of products and technologies.
This acquisition will allow the Construction Equipment division of Cnh Industrial to integrate Eurocomach mini and midi excavators, Sampierana undercarriages and spare parts into its current product portfolio together with those of its current Oem partners. This confirms Cnh Industrial’s commitment to invest and grow its construction machinery sector, positioning it better in the market of mini and midi excavators, in great demand.
Sampierana is based in Italy with its headquarters and production sites. In addition, it operates a wholly owned subsidiary with manufacturing facilities in Kunshan, China.