Interpump Group announces the closing of the acquisition from the Danfoss group of the White Drive Motors & Steering business units (plants in the USA, Germany and Poland). The news was given by the same company with a note.
The acquisition was possible following the approval of Interpump as buyer by the competent bodies (including the European Commission and the US Department of Justice), and the rapid completion of the antitrust procedures required by various authorities around the world.
The scope of the acquisition is unchanged with respect to the press release of June 1, 2021. The seller announced that the EBITDA, valued at the closing date and extended to 12 months, would amount to 53 million euros, compared to the 45 originally planned . For this reason, the consideration for the transaction, paid in cash today, refers to a total enterprise value of € 278 million, instead of the € 270 million previously indicated.
Interpump Group President Fulvio Montipò commented: “We are closing this important and complex transaction on schedule. Thanks and applause to the team of managers involved in the project. Now the stimulating phase of organizational and cultural integration in the Group begins, as has always happened for all the other acquisitions ”.