Euseder, a steel group headed by the Anghileri family from Lecco, acquired 100% of Bidue, a company founded in 1981 by the Borghi family in the province of Rovigo and active in the production of welded pipes.
In the three-year period 2017-2019, Bidue - which has 30 employees - achieved a turnover of 20 million euros, 80% of which was generated abroad (Europe, USA, Brazil, Russia, Australia, India, China, Mexico). Ebitda stood at 23% and the ratio between net financial position and Ebitda at 0,17.
“In addition to the great profitability and strong internationalization – said the managing director of Eusider, Eufrasio Anghileri – Bidue is characterized by a high quality product. With this operation, the first in a year for us, very important at a strategic level, the process of growth, verticalization and internationalization of the Eosider Group continues".
In addition to the parent company, Eusider controls seven other companies, for a total of 500 employees. In 2019, the group had a turnover of 696,9 million euros (31% abroad), with an Ebitda of 35,7 million.
"I am very satisfied with the acquisition of Bidue, which will allow the group to be even more present in the welded pipe sector and above all in this niche of coated pipe for special uses", he added Antonio Anghileri, co-founder of Eusider Spa.
The group also announces that 2020 will close "with positive results" and that therefore the investment plan is confirmed. There are two objectives: to purchase new industrial 4.0 plants and machinery and to expand the factories for a value of 12,5 million euros.
