Cnh Industrial strengthens itself in the construction equipment sector, by acquiring 90% of Sampierana, a company specialized in the production and sale of mini excavators, undercarriages and spare parts. The agreement also provides that, in the four years following the closing of the transaction, Cnh will rise to 100%, obtaining total control of the company.
The overall transaction, which will take place on a debt free cash free basis, is valid 101,8 million euro. The consideration, explains CNH in a note, will be financed with available liquidity, while the completion of the transaction is expected in the fourth quarter of 2021.
“This latest strategic acquisition will accelerate the growth of our construction equipment segment. Sampierana's outstanding portfolio strengthens our presence in critical market segments and provides our dealers and customers with market-leading products that will be supported by our brands, distribution network and manufacturing expertise,” he said. Scott Wine, CEO of CNH Industrial.
“The Sampierana group has recorded a positive trend in profits year after year, particularly in Europe, and is renowned for its reliability, quality and innovative technology. CNH Industrial's broad product portfolio, high customization capability and existing electric machine prototypes are an ideal match for CNH Industrial's customer-focused and sustainability-minded approach, which will enable the company to increase its product offering and technologies”, continues the company.
At Piazza Affari the Cnh Industrial stock earns 0,2% to 14,245 euros.
