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01-May-2017

SCOUTING SPA HELPS THE EMAK GROUP TO ACQUIRE 83.1% OF LAVORWASH SPA

Comet S.p.A, a subsidiary of the Emak Group  listed in the Star segment of Borsa Italiana,  has signed a binding contract to purchase 83.1% of the equity capital of Lavorwash S.p.A. from Zenith S.p.A. (Lanfredi family) and the Migliari family.
The value of the transaction (in terms of price subject to adjustment) to acquire 83.1% of the target was around Euro 54.8 million. The contract also envisages the signature of options to acquire an additional 14.7% of the share capital.
Scouting Spa, a financial  advisory firm backed by local banks and controlled by a team of professionals with in-depth experience of special transactions in the mid-corporate segment in Italy and abroad, assisted the purchasers throughout the entire process of negotiating, structuring and closing the sale transaction and sourcing finance for the acquisition.
Lavorwash S.p.A., with offices in Pegognaga (MN), leads a group that designs and manufactures a wide range of machines for the cleaning sector, such as high pressure water jet machines, vacuum cleaners, floor washers/dryers. In 2016 the Lavorwash Group generated sales of Euro 70 million, with an EBITDA of Euro 9.5 million and a net profit of Euro 5.8 million.
The Emak Group develops, produces and distributes a broad range of products globally through 28 companies , more than 150 distributors and over 30,000 specialist retailers addressing three business areas: (i) outdoor power equipment, (ii) pumps and high pressure water jetting, (iii) related components and accessories.
The transaction was coordinated and carried out on behalf of Scouting by Filippo Bratta (Partner), Marco Musiani (Partner), Elena Montibeller (Senior analyst) and Riccardo Donadel (Analyst). Professionals from Studio Baldi and the Law Firm Sutich Barbieri Sutich respectively supported the buyers and sellers in negotiating and settling the legal and contractual aspects of the transaction.