September 2008

Eidos Partners announces the closing of the sale of E.A.M.E. to Askoll Holding.  Consideration for the sale was not disclosed by the parties.

E.A.M.E. (www.emersonappliance.eu), headquartered in Northern Italy, is a leading European designer, manufacturer and supplier of electric motors, draining pumps and fans to the world’s largest manufacturers of home appliances primarily for laundry, dishwashing and cooking appliances.  Operating five production sites in Italy, Slovakia, Romania and China, E.A.M.E. employs approximately 2,800 people.  In 2007, E.A.M.E. generated sales in excess of €330m.

Askoll Holding (www.askoll.com), established in 1978 in Vicenza (Italy), is a leading manufacturer of electrical synchronous motors found in household appliances such as washing machines and dishwashers. Askoll today is an international group with plants in 10 locations in Italy, Brazil, Mexico and a sales office in USA.  In 2007, sales exceeded €130m spread over 20 countries.  Askoll had 560 employees.

Thanks to this acquisition, Askoll becomes a leading supplier globally of motors and components for the white goods industry.  The enlarged group has sales of around €450m and over 3,000 employees.

 

Emerson Electric Co. (www.emerson.com) is a diversified global manufacturing and technology company offering a wide range of products and services in the areas of process management, climate technologies, network power, storage solutions, professional tools, appliance solutions, motor technologies, and industrial automation.  Recognized widely for its engineering capabilities and management excellence, Emerson has more than 140,000 employees and approximately 265 manufacturing locations worldwide.  Emerson has a market capitalization in excess of $28bn.

Eidos Partners is an independent investment bank focused on the design, definition and realization of mergers, acquisitions and disposals of companies, on quotations on the stock exchange, on debt advisory services and on corporate financial restructurings. Eidos Partners’ mission is to provide the highest-quality financial and strategic advice to Italian companies and to other international companies and entities operating in Italy.

 


Transaction Type
Disposal

Industry
Advanced Manufacturing

Deal Size
Undisclosed

Simone Dragone
Managing Director
Tel. +39 02 8597.9233
simone.dragone@eidospartners.com

Gaspar Santonja
Director
Tel. +39 02 8597.9244
gaspar.santonja@eidospartners.com

Luisa Sambuco
Associate
Tel. +39 02 8597.9230
luisa.sambuco@eidospartners.com