Troax Group Acquires Italian Stommpy SpA
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Troax Group has, through its subsidiary Troax AB, entered into an agreement to acquire all outstanding shares of Italy-based Stommpy SpA, including its Austrian subsidiary Stommpy GmbH.
Stommpy SpA was founded in 2000 and is a leading manufacturer of flexible safety barriers in the Italian market. The company also has a sales subsidiary in Austria and exports its products worldwide through distributors. Stommpy has developed unique, high-quality products that distinguish it from other manufacturers of flexible safety barriers. The company holds a strong position in customer segments with high demand, such as the food and beverage industry and the pharmaceutical sector.
"I am delighted to welcome Stommpy to the Troax Group. The company has developed a range of unique products that are unrivalled in the flexible safety barrier market and is an important addition to the Group in our mission to create safer workplaces," says Martin Nyström, President and CEO of Troax Group.
"Stommpy's unique positioning in safety for demanding environments provides a unique competitive advantage for the Barrier product line within Troax Group. The Italian production facilities and the capable product development, sales and installation teams will be a welcome addition to the Troax Group. We look forward to our joint journey to become a leader in industrial safety solutions," says Jonas Lindqvist, President New Business at Troax Group.
The acquisition will be financed from Troax Group's existing cash resources and credit facilities. The transaction is being completed today, and the costs are not expected to have a material impact on Troax Group's earnings per share or net debt/EBITDA.
Source: Troax.com
