The Bologna multinational expands in the automatic door sector and signs an agreement for an acquisition that will be made without resorting to debt for a value of 100 million euros.
The acquisition features the Italian multinational Faac, which specializes in the supply of intelligent locks, which buys part of the Agta Record Group from Sweden and Swedish giant Assa Abloy and some of its direct subsidiaries operating in the specific sector of automatic pedestrian doors and fast sliding doors. With this agreement Faac is accredited among the main European operators in the sector.
he overall volume of business developed by the realities subject to shopping is 93 million euros and can count on approximately 600 employees. The managing director Andrea Marcellan explains how with this acquisition Faac is credited in all respects among the largest European operators in the automatic door segment and consequently the path of technological development and product know-how will undergo a significant acceleration.
The operation was financed without debt. "This proves - the CFO Ezechiele Galloni - of the ability to generate cash, even in a difficult context such as the current one, and the possibility of continuing and intensifying one's purchasing activity by using leverage and alternative forms of financing on the capital market" .
With this acquisition, Faac continues the vigorous growth path undertaken for years now, both for internal and external lines, reaching today estimated consolidated revenues of over 600 million euros and a workforce of around 3,300 employees. Today the group is operating on all 5 continents in 26 countries with over 50 companies and 8 main production sites
Source: "La Repubblica"