SAF-HOLLAND closes acquisition of majority stake in coupling system specialist V.ORLANDI S.p.A.
SAF-HOLLAND closes acquisition of majority stake in coupling system specialist V.ORLANDI S.p.A.
Luxembourg, April 9, 2018 - SAF-HOLLAND announces the successful closing of the acquisition of a 70% stake in the Italian manufacturer of coupling systems for trucks, trailers, semi-trailers and agricultural vehicles V.ORLANDI S.p.A., based in Flero near Brescia, Italy. The acquisition of V.Orlandi had been announced on March 16, 2018 already.
SAF-HOLLAND initially acquired 70% of the shares in V.ORLANDI S.p.A.. The parties agreed to grant SAF-HOLLAND a call option for the remaining 30% interest in the company, which can be exercised at a later date.
V.ORLANDI will be included in the SAF-HOLLAND Group's scope of consolidation as of April 1, 2018. In the first full year following the inclusion in the Group's scope of consolidation V.ORLANDI is expected to contribute approx. EUR 22 million to Group sales featuring an adjusted EBIT margin of approx. 15%.