Antares Vision acquires 100% of FT System S.r.l. (“FT System”), an Italian company based in Alseno (Piacenza), leader in control and inspection in the beverage industry, in the domestic and foreign markets.takes a new step in the path of its strategic business diversification.
FT System (controlled by Arol) is specialized in inspection and control systems for bottling and packaging. The purchase agreement has also been accompanied by an industrial partnership agreement with Arol S.p.A.
The acquisition of FT System, from Italy to France, United States with divisions in Mexico, Braxil, UK, Spain, China and India
The agreement was signed between Antares Vision and the shareholders of FT System, Arol S.p.A. (“Arol”), Mr. Fabio Forestelli and Mr. Ferdinando Tuberti, holders of quotas equal, respectively, to 80%, 10% and 10% of the capital of FT System. The sale of the quotas was also finalized today.
The Equity Value for 100% of FT System, (is 67.7 million euros. With the acquisition, Antares Vision has taken control of FT System and indirectly of its controlled companies, in France and the United States as well as of related business carried out by divisions operating in Mexico, Brazil, UK, Spain, China and India.
Control and inspection in beverage industry
Founded in 1998, FT System is a leader in bottling control and inspection, mainly in the beverage industry. It covers all stages of processing: container control, filling, capping, leak and pressure verification, labeling, coding, weight and palletizing.
The customer portfolio, with over two thousand companies in 60 countries and approximately 5,200 machines installed, includes large multinationals, producing water, soft drinks, liquor, beer, wines, and OEMs (producers and integrators of bottling lines). The company has over 140 employees.
ROBO QCS, fully automated quality control station
FT System has based its growth by investing in the development of innovative and patented technologies such as the ROBO QCS (a non-destructive and fully automated quality control station, integrated into the production line).
Between 1st January – 31st December 2019, FT System is expected to report revenues of over 26 million euros (of which approximately 18 million euros originated abroad), an EBITDA of 6.0 million euros and an EBIT of 5.7 million euros. At the closing date, FT System recorded a positive net financial position (i.e. cash) of approximately 8 million euro.
The acquisition of FT System is part of the diversification strategy pursued by Antares Vision and reflects the Group’s mission to protect the product throughout the entire life cycle.
Expanding the production offer in beverage industry
FT System will allow Antares Vision:
- to expand the product offering in the beverage industry, thanks to the know-how and expertise held by the company.
- to further extend the geographical presence, acquiring activities in new countries (Mexico, China, UK and Spain, as well as the USA, France, Brazil and India where Antares Vision is already present).
- to increase market penetration, benefiting from the company’s consolidated customer base and sales force.
- to develop cross selling, integrating Track & Trace solutions and Smart Data Management.
The industrial partnership established between FT System and Arol
During Antares Vision’s acquisition, FT System and Arol have also signed an agreement aimed at establishing an industrial partnership, with the primary objective of building a competitive advantage on the market, thanks to a complete offer: control and inspection to meet quality standards, product traceability along the supply chain to ensure transparency, Smart Data Management to maximize efficiency.
Fabio Forestelli and Ferdinando Tuberti will continue to work as FT System Managing Directors, ensuring the continuity of business management and accompanying the development project underlying the agreement with Antares Vision.
“The agreement with FT System will allow us to launch a development project in the beverage industry that is unique in terms of the breadth and the quality of the offer and its geographical extension,” Emidio Zorzella, CEO of Antares Vision. “Our strategy to diversify the reference industries is also based on identifying partners such as FT System, that combines solid know-how, experience and technological innovation capacity“.
Fabio Forestelli, CEO of FT System, declared “We found in Antares Vision the ideal qualities to boost our growth. I am sure that together we will be able to enhance our potential and build a solid competitive advantage in the beverage industry in Italy and abroad “.
Antares Vision was assisted in the acquisition transaction by Mediobanca (Financial Advisor), Orsingher Ortu (Legal Advisor), NCTM (Fiscal Due Diligence) and New Deal Advisors (Financial Due Diligence).
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