Finlogic took over 100% of Alfacod Srl
Fiinlogicactive in the information sector Technology with complete solutions for the coding and automatic identification of products, announces that it has signed, today, the deed for the acquisition of the 1oo% of the company Alfacod Srlin implementation of the agreement signed and communicated on April 2, 2022. The purchase price, totaling € 8.192 millionwas paid by Finlogic to selling members for Euro 400 thousand, on 04 April 2022 as a deposit, for Euro 6.740 milliontoday, while the remainder, equal to Euro 1.05 million, will be paid by Finlogic, pro rata to each Transferor, for 275 thousand euros no later than 30 June 2023 for 275 thousand euros no later than 30 June 2024 and for Euro 501 thousand upon the occurrence of certain conditions precedent related to the successful outcome of certain collections.
At the date today the contractual conditions precedent have been verified, in addition to the release of the guarantees agreed upon at the signing stage. Please note that, in order to ensure continuity in management, they will remain involved in the operational governance all current managers (children of the shareholder-sellers) who will continue to carry out the same duties with a view to continuity with the economic and business policies pursued by the company. The Assembly of the shareholders appointed the new Board of Directors today, confirming as Chairman and Chief Executive Officer the Mr. Giorgio Solferini who will have the widest powers in continuity with the management of previous years.
Alfacod Srl based in San Lazzaro di Savena (Bo), is a company active in the field of automatic identification and data capture since 1986 and is one of the most important system integrators in the sector. With 55 employees, in 2020 it recorded sales revenues of € 11.4 million, an EBITDA of € 0.6 million (EBITDA adjusted 2020[1] equal to Euro 0.8 million) and NFP equal to Euro 3.6 million at the closing date. Alfacod is today an important point of reference in the auto-id sector recognized and appreciated by a large number of customers, always distinguishing itself for the utmost attention to supporting business needs, acting with professionalism, competence and an innovative character. In 2008, Alfacod founded the Italian Academy of AIDC, with the aim of spreading the culture of automatic identification, data capture and all the technologies that have been developed over time in the sector.
Today the Italian Academy of the AIDC is the main spokesperson for technological innovation in data capture and auto-id solutions. The Alfacod Experience Center, a space of over 300 square meters of exhibition in which customers they can see and touch the products, technologies and all the solutions adopted. The strengths are the high competence in the field, logistics software and geolocation, RFID, Voice, RTLSartificial vision, augmented reality, Wi-Fi enterprise, cybersecurity, mobile computing, mobile and anthropomorphic collaborative robotics.
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