SITI B&T Group S.p.A. announces that it has reached an agreement for the acquisition of 20% of the capital of Ancora S.p.A., the group company active in ceramic tile finishing thus consolidating its 100% shareholding.
“With the acquisition of the minority share in Ancora we complete the purchase of this company dedicated to the finishing of ceramic products – commented Fabio Tarozzi, Chairman and CEO of SITI B & T Group – which has been an example of success in relaunching a historic brand. Thanks to synergies with our Group, it has more than doubled its turnover since 2014 – last year before the acquisition -. The product range of Ancora has allowed the Group to be identified, with even greater force, as “Full Provider” of the entire ceramic production line through proprietary technologies, resulting in being the supplier with the widest range of products on the market”.
In 2017 Ancora S.p.A. generated a turnover of 32.4 million Euro (36.9 million Euro in 2018), achieving an EBITDA of 4.1 million euro. The Net Financial Position at 31.12.2017 was 6.6 million Euro and the shareholders’ equity of 5.9 million Euro.
The transaction was carried out for a value of 1.6 million Euro, of which 0.8 million Euro payable in 12 months.
The Company has a staff of 79 employees, of which 14 in the research and development department alone and is the owner of 58 active patents with investments in R & D of over one million Euro per year.
Ancora S.p.A. makes R&D a competitive strength, as seen with the recent introduction on the market of innovative products among which we highlight: the first line in the world of dry lapping (surface finish) (Polidry ®); the most complete and flexible slab finishing line on the market, with lapping, cutting, squaring and application of protective treatments (Luxury ®) and a completely automated squaring line through laser technology, all having supervision and control systems of evolutionary production efficiency compared to Industry 4.0.
Source: Siti B&T NEWS