ATS Automation Tooling Systems Inc. completed the acquisition of COMECER S.P.A. from Zanelli family and Principia III- Health Fund managed by Principia Società Di Gestione Del Risparmio S.P.A.
February 27, 2019
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ATS Automation Tooling Systems Inc. (TSX:ATA) entered into a definitive agreement to acquire COMECER S.P.A. from Zanelli family and Principia III- Health Fund managed by Principia Società Di Gestione Del Risparmio (SGR) S.P.A. for approximately €110 million on December 19, 2018. The consideration is subject to working capital and other adjustments and will be paid in cash. ATS Automation will fund the acquisition primarily from cash on hand and its credit facilities. Following the acquisition, Comecer will continue to be led by its Chief Executive Officer, Alessia Zanelli. The transaction is subject to customary regulatory approvals and is expected to close in the first calendar quarter of 2019. ATS expects adjusted earnings per share accretion in the mid-single digit percentage range as a result of the transaction in fiscal 2020 (period beginning April 1, 2019). CFPS is expected to be accretive in the first full year. Earnings per share are expected to be diluted in the short term due to the incremental amortization of Order Backlog and other intangible assets as a result of business combination accounting adjustments. Excluding the impact of business combination accounting, ATS Automation expects the return on invested capital associated with this acquisition to achieve double digits by year five post-acquisition. Danilo Surdi, Sira Franzini, Ornella Vastola, Carlos Rosquet Martinez, Silvana Bonazzi, Christian Montinari, Carlotta Benigni, Federico Strada, Lorenzo Caprara, Elena Varese, Valentina Mazza, Valentina Marengo, Imma Battaglino, Pieter Paul Terpstra and Charlotte Erdbrink of DLA Piper Italy LLP acted as legal advisors and Alberto Vigo, Stefano Cappello and Federico Grossi of Mediobanca Banca di Credito Finanziario S.p.A. (BIT:MB) acted as financial advisors for Principia Società and Zanelli family. Mario Ferrari, Marco Gardino, Antonio Faruzzi, Giulia Pairona, Piergiorgio Bonacossa, Stefania Tiengo, Luca Egypt, Maria Cristina Breida, Lorenzo Lamberti, Giovanna Maggia, Ludovica Ceretto, Fabio Benetti, Silvia Lazzati, Nicola Berardi and Serena Sibona of Studio Associato R&P Legal acted as legal advisors for ATS Automation.
ATS Automation Tooling Systems Inc. (TSX:ATA) completed the acquisition of COMECER S.P.A. from Zanelli family and Principia III- Health Fund managed by Principia Società Di Gestione Del Risparmio (SGR) S.P.A. on February 28, 2019.
ATS Corporation is a Canada-based automation solutions provider. The Company uses its knowledge base and global capabilities in custom automation, repeat automation, automation products and value-added services, including pre-automation and after-sales services, to address the sophisticated manufacturing automation systems and service needs of multinational customers in markets, such as life sciences, food and beverage, transportation, consumer products, and energy. It engages with customers on both greenfield programs, such as equipping new factories, and brownfield programs, including capacity expansions, production relocations, equipment upgrades, software upgrades, efficiency improvements and factory optimizations. It offers post-automation services. It also offers artificial intelligence (AI) and machine learning (ML)-based tools for industrial production. The Company also designs and manufactures automated water purification solutions for biomedical and life science applications.
ATS Automation Tooling Systems Inc. completed the acquisition of COMECER S.P.A. from Zanelli family and Principia III- Health Fund managed by Principia Società Di Gestione Del Risparmio S.P.A.
ATS CORPORATION 
