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01-Mar-2018

SCOUTING SPA HELPS THE EMAK GROUP TO SELL 100% OF RAICO SRL TO KRAMP GROEP

The Emak Group,  listed in the Star segment of Borsa Italiana, has signed a binding agreement to sell 100% of the quota capital of Raico S.r.l. to Kramp S.r.l., an Italian subsidiary based in Reggio Emilia of Kramp Groep, a European leader in the distribution of spare parts and accessories for the agricultural sector. This agreement envisages a consideration of Euro 5.5 million.
Raico  specialises in distributing components and accessories for agricultural tractors, industrial and earth-moving machines, with a turnover of about Euro 12.8 million, a gross operating margin of Euro 0.5 million and net borrowing of Euro 0.7 million at 31 December 2017.
Kramp Groep is the largest technical distributor in Europe, providing a comprehensive range of products and services to retailers and workshops in the agricultural, horticultural and forestry sectors. Established in 1951, Kramp is based in Varsseveld, in the Netherlands, and operates in almost every European country.
The transaction, including payment for and transfer of the quotas, is scheduled for completion by the end of March.
Scouting Spa acted as the financial advisor for Emak Spa.