Salcef S p A : Acquisition of Colmar Technik

Acquisition of Colmar Technik

26 June 2023

The Salcef Group acquires Colmar Technik, strengthening its presence in the railway machinery sector.

Salcef Group S.p.A. has signed a preliminary agreement to acquire 100% of the share capital of Colmar Technik S.p.A. The acquisition will allow the Group to consolidate its presence in the railway machinery industry.

Colmar, established in 1963, designs and manufactures machinery for the construction and maintenance of railway lines at its facilities in Arquà Polesine and Costa di Rovigo. With this strategic move, the Salcef Group aims to expand the product range of its railway machinery business unit, both for internal use and the external market. The acquisition will also leverage commercial relationships as a result of Colmar's extensive international network, in the United Kingdom, the United States, Russia, China, and Colombia.

"We believe that today's acquisition has a strong strategic rationale for the Group". " commented Gilberto Salciccia, Executive Chairman of Salcef Group "not only because it is a further step in our external growth path but also as it is the first one in the railway machines segment, where the Group already operates through its subsidiary SRT. The integration of the newly acquired company will allow us to expand the product range of the Railway Machines business unit, both for internal use and for the third-party market, as well as to leverage the commercial synergies arising from Colmar's extensive international network with offices in the United Kingdom, United States, Russia, China, and Colombia"

Lorenzo Peroni, SRT CEO and head of Railway Machines business unit, added, "The machines produced and offered by Colmar, which are appreciated and certified by many railway operators worldwide, mainly include road/rail loaders, wheeled and tracked, and electric or diesel-powered shunters. Therefore, they are perfectly complementary to SRT's current product range, which focuses on railway wagon outfittings and rail grinders. Thanks to the Group's expertise in the sector, along with the possibility of receiving feedback directly from our worksites, we will have the opportunity to refine and optimize Colmar's products as well, benefitting both the Group and external customers "

Colmar has approximately 110 employees and a backlog of over 40 million euros. It is expected that the annual turnover, once the acquisition is completed, will be around 20 million euros, with a margin in line with the Group's average. The agreement includes an Enterprise Value of approximately 25 million euros, of which 2 million euros have been paid at the time of signing the preliminary agreement. The remaining payment will be made upon closing, expected by August 2023.