Landi Renzo enters the capital of Idro Meccanica Srl. Through its subsidiary Safe Spa – company of the Safe&Cec Group – the Emilia-based company has acquired 90% of the manufacturer of innovative technologies and systems for compressing hydrogen, biomethane e natural gas. The remaining 10% of the share capital will be transferred to Safe once the necessary authorizations for the sale have been obtained from a shareholder. The price for the acquisition of the entire share capital is equal to 6,4 million euros.
To finance the transaction, Safe issued on December 30, 2021 a bond loan non-convertible senior, for a total nominal amount of 7 million euros at a fixed rate and maturing on August 31, 2027, fully subscribed by the closed-end mutual investment fund reserved for professional investors called Pmi Italia II managed by Finint Investments Sgr.
The aim of the acquisition is to consolidate the presence in the sector to take advantage of the alternative food trend. A segment that, according to the CEO Cristiano Musi, “is expected to grow strongly in the next few years”.
This operation is added to the acquisition of the Bologna company Metatron. Also in this case, Landi Renzo first took over 49% of the Castel Maggiore company specializing in components for Mid&Heavy Duty mobility, then the remaining 51% of the capital in November. For a total of 26,7 million euros.
