Product category:
Manufacturing dealerships, agencies and acquisitions
News Release from: Prima Industrie UK
Edited by the Manufacturingtalk Editorial
Team on 25 February 2008
Italian firm acquires Finnish punch
press builder
In a EUR 170 million deal, Italian CNC laser cutting/welding systems builder, Prima Industrie of Collegno, near Turin, has acquired Finnish CNC punch press builder, Finn-Power.
Prima Industrie in an EUR 170 million deal, has completed the acquisition of Finn-Power Oy, Finland Finn-Power has a 25 year history of growth and innovation in the design and manufacture of sheet metal working machinery
This article was originally published on Manufacturingtalk on 31 May 2002 at 8.00am (UK)
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The Prima Industrie group said it is global leader in laser and sheet metal working machine sectors with annual sales exceeding EUR 400 million euros.
The group is represented in 50 countries, has 10 manufacturing plants in Italy, Finland, USA and China, and more than 1,700 employees worldwide.
Finn-Power operates manufacturing plants in Italy and Finland, as well as subsidiaries in Italy, Germany, France, Belgium, Spain, USA and Canada.
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Materials handling system combined with a small 'footprint' flat bed laser will enable factories to fit fully automated systems into areas where previously it would not have been possible.
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A drastic reduction in production costs and times is being achieved with a laser profiling and cutting machine equipped with a highly dynamic, lightweight head.
The company's wide range of sheet metal working equipment includes CNC punch presses, integrated punching and shearing cells, punching/laser cells, automatic bending cells and related material handling systems.
Finn-Power has also developed a strong reputation for its custom-engineered flexible manufacturing systems and the versatility of its products.
In addition, it has limited operations in Prima's core business competence of laser cutting equipment.
Tomas Hedenborg, CEO of Finn-Power said: "Prima is the perfect partner for Finn-Power from the technological and product point of view.
Synergies arising from this integration represent an outstanding opportunity".
Jan Stahlberg from EQT Partners, advisors to Finn-Power's former majority stockholders EQT III Limited, agreed and said: "I am delighted to see Prima as the new owner of Finn-Power.
This is a commercially sound transaction that will create the third largest player in the market with an unparalleled product offering".
Finn-Power's principal markets mirror those of Prima Industrie group, with customers throughout the telecommunications, HVAC, electrical, lighting, agricultural equipment, domestic appliance and metal furniture sectors.
The Prima Group's chairman and CEO, Gianfranco Carbonato, said: "The acquisition is in line with Prima Industrie's growth strategy in complementary sectors.
I would like to thank everyone who worked closely with us to make this acquisition: in particular Unicredit, Intesa Sanpaolo and Banca IMI.
The cooperation between the banks and our company has been an important factor in enabling this agreement to be concluded successfully.
I am confident that it will bring significant value to all our stakeholders".
* About Prima Industrie UK - Coventry-based Prima Industrie UK draws on the established track record of its Italian parent organisation, Prima Industrie, a world leader with 30 years experience in the design, development and manufacture of laser cutting machines and automation solutions.
Prima UK provides sales, installation and servicing for a wide range of new and pre-owned 2D and 3D cutting machines that are used by customers in industries as diverse as aerospace, automotive, marine and electrical equipment manufacture. Request free introductory details about products from Prima Industrie UK ...
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