Ima has signed an agreement with the Redaelli family for the purchase of 60% of the shares of the company Eurosicma based in Segrate (Milan) which manufactures and markets automatic machines and systems for horizontal flowpack and fold packaging for the food industry, cosmetic and pharmaceutical. The transaction provides for an outlay for IMA of approximately 26 million euros, to be paid at the closing expected by 30 September 2017 and the signing of Put & Call option contracts on the remaining 40% to be exercised by April 2027.
Alberto Vacchi, chairman and CEO of IMA, underlines in a note that "the announced transaction is strategic and will allow us to strengthen our Group's leadership in the sector of automatic flowpack and fold machines by expanding the current product range and creating significant opportunities both in production and commercial with the other companies of the Group”. Marco Redaelli, managing director of Eurosicma, highlights in turn that "in Ima we have identified the best partner to continue the development path of our company and to achieve further technological and commercial goals in the flowpack and fold sector, in which we have been protagonists for 50 years old. The Redaelli family will always remain at the forefront of the Company's operational and strategic management, with the aim of maintaining maximum customer orientation”. The operation was promoted by Gca Altium, as financial advisor to the sellers, and by Poggi & Associati, which also handled the legal and tax aspects for IMA. In the operation, Ima also availed itself of the advice of E&Y, while the sellers were assisted by the law firm Tonucci & Partners
Eurosicma, a historic Italian packaging company, was founded in 1965 and has consolidated over time a leadership position in some market niches such as candies, biscuits on the coast and noodles in the food sector, plasters and cotton buds in the pharma and personal care sectors. At the closing date, the company estimates a positive net financial position of approximately 7 million euros and forecasts for the 2017 financial year a turnover of approximately 27 million euros and an Ebitda of 4,5 million euros with good prospects for growth also thanks to the overall support that the IMA Group will be able to provide to the company through its integration into the Group's organisation.
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