Over in Europe, the M&A scene has sparked back into life with the news that Biesse Group, based in Italy, has agreed to buy fellow Italian machinery company Forvet S.p.A.
Statement from Biesse Group
Here is the announcement from Biesse Group about the acquisition:
Biesse Group signs a contract for the acquisition of 100% of the quotes of Forvet Costruzione Macchine Speciali S.p.A., a manufacturer of special automated machines for glass machining through a deal with a value of about 41 Euro mln. This operation, in line with Biesse Group’s strategic plan, will increase the product portfolio of glass machining centres, a sector in which the Group has been present since the second half of the 1980s with Intermac brand technologies. Indeed, thanks to the introduction of Forvet S.p.A.’s proprietary technologies, the group strengthens its offer towards the high end of the market by offering highly automated, customised and unique machines and systems.
“This is a strategic acquisition that allows us to complete the range of glass machining centres with complementary industrial solutions that can be perfectly integrated with our technologies, thus offering technologically advanced customers modular lines and automated systems that can guarantee high levels of productivity and flexibility” said Roberto Selci, Biesse Group CEO.
Forvet S.p.A., founded in Volvera, Turin, in 1990, is a unique reference in the market for the production of automated lines that encapsulate a high level of know-how, capable of producing a complete product in a reduced space, including loading, unloading and intra-logistics operations that can be customised according to customer needs.
Statement from Forvet
Here is what Forvet S.p.A. had to say about the deal:
On October, 11th 2021 an agreement was signed for the sale of the entire shareholding in FORVET S.p.A, a Turin-based company and leader in the design and manufacture of special glass processing machines, to BIESSE S.p.A Group, listed in the STAR segment of the Milan Stock Exchange.
This operation allows Biesse Group to increase its product portfolio of glass processing machines and, thanks to the introduction of Forvet S.p.A.’s own technologies, the Group will strengthen its offer towards the higher end of the market by offering highly automated, customised machines and systems that are unique in the sector. “The result of the product offered will be increasingly advanced technology with modular lines and automated systems, capable of guaranteeing high productivity with the incredible flexibility typical of Forvet products” commented Davide Gariglio – Forvet S.p.A. CEO
To all Forvet’s historic customers who have contributed to the growth of our company, and to all the new customers who invest in our technology every month, we guarantee the qualitative continuity and dedicated attention that have distinguished Forvet’s management, implemented by the dynamism of a large industrial group.
About Biesse Group:
Biesse Group is an international company that designs, manufactures and distributes systems and machines for processing wood, glass, stone, metal, plastic and composite materials aimed at the furniture, housing & construction, automotive and aerospace sectors.
Founded in Pesaro in 1969 by Giancarlo Selci, it has been listed in the STAR segment of the Italian Stock Exchange since 2001. 85% of its consolidated turnover is achieved abroad. It operates in over 160 countries with 13 manufacturing sites and a direct presence in the main world markets. Its customers include industry-leading companies and some of the most prestigious names in Italian and international design. Today it has 4,300 employees.
About Forvet S.p.A.:
Founded in 1989, Forvet has always kept its philosophy by offering special machines with a high content of innovation and technology. The key to the company’s success lies in this specific attitude: to produce unedited machines by developing new ideas and solutions, for a careful and evolved market segment. Forvet has invented a new way of conceiving the procedures of glass processing: from the first CNC drill in the history to the edge processor grinding lines CHIARA, where the machine is the one that moves around the glass, to the Combiflex production island, a jewel of technology, where all processing is carried out simultaneously. New ideas, supported by continuous important investments in R&D, have allowed the company to grow constantly with the definition of numerous world patents, testifying the evolution of the idea, which becomes customer satisfaction, and therefore real progress.
(sourced from corporate Linkedin page)
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