From Treviso to Germany, Nice crosses borders. The Italian company active in the automation sector for the home has acquired from Partners Munchen, a private equity fund, 80% of Elero, a German group that operates in the same sector as Nice and has a turnover of over 50 million euros a year. The price of the operation is 25,8 million euros.
For the remaining 20% of the German company, “the agreement provides for put & call options – reads a note from Nice – exercisable from the approval of the 2014 financial statements until 30 September 2017. The price of these options will be determined in function of the Ebitda for future years and the financial debt of the elero Group referred to the last financial statements approved before the exercise of the options”.
The news of the purchase was immediately reflected in Piazza Affari, where Nice is listed in the Star segment. At around 17pm, the company's stock gained 4,7%.
According to Lauro Buoro, President of Nice, "the acquisition of the Elero Group, a leading company of recognized excellence worldwide, represents for Nice the achievement of a fundamental goal to create a strong presence in German-speaking countries, but above all the 'opportunity to present a wide range of products, unique in the sector, for the automation of all types of solar protection inside and outside buildings, especially in applications for mobile facades”.
