Hager, a German leading supplier of solutions and services for electrical installations in residential, commercial and industrial buildings, will buy Italian Bocchiotti group, a specialist in the manufacturing of trunking and wiring systems, conduits, panels, enclosures and junction boxes, MF-Milano Finanza writes today (download here the press release).
The deal was signed yesterday at the end of an auction managed by Bocchiotti’s financial advisor Banca Imi. Hager’s offer beated the one from Russian group Dkc, an international leader in wiring systems. UK Hellermann Tyton and US Atkore International groups also took part to the auction.
Headquartered in Northern Italy in Arenzano (Genoa), the group will be 50 years old this year and is wholly owned by the Bocchiotti founder family (through Silex spa) who was advised on legal issues by Pirola Pennuto Zei & Associati law firm for this deal.
About one yar ago the family started a search of a strategic partner but decided then to sell the business. The group has been valued about 7-8x 2014 ebitda which has not been disclosed. However the company reached 106 million euros in consolidated revenues in 2013 (from 116 millions in 2012) with 12.6 million euros of ebitda (from 14.8 millions). Bocchiotti counts 400 employees around the world, 5 productive plants in Italy and distributes its products in 50 countries.