Interpump has signed a preliminary contract for the purchase of 100% of Walvoil, a group based in Reggio Emilia active in the sector of valves and hydraulic distributors.
At the end of 2014, Walvoil expects to achieve a consolidated turnover of approximately 140 million euros and an Ebitda of approximately 19 million euros. The provisional net price was set at 100 million euros, equal to 95% of the estimated price, and will be adjusted according to the net financial position at 31 December 2014, which is currently estimated at around 35 million euros.
The payment will take place at the closing, expected in the first half of January 2015, 45% through the sale of listed Interpump shares and the remaining 55% in cash.
Furthermore, based on the final consolidated Ebitda for 2014, an additional amount (earn-out) of between 2 and 15 million euros will be recognized to the sellers.
The maximum amount will be paid upon achievement of an Ebitda for the 2014 financial year of not less than 21 million euros.
“Today – commented the Interpump Group chairman Fulvio Montipò – through the acquisition of Walvoil, Interpump Group takes a fundamental step in its growth plan towards achieving international leadership positions in all the sectors in which it operates”.
Meanwhile, in the afternoon, the Interpump share on the Stock Exchange (Star segment) travels up by one percentage point, to 11,27 euros.
