Case parent company CNH buys Italian equipment supplier Sampierana
By Roberta PrandiSeptember 01, 2021
Case Construction Equipment parent company CNH Industrial announced it will purchase 90% of the capital stock of Italian earthmoving equipment supplier Sampierana S.p.A.
Sampierana is a privately owned Italian company that specializes in the development, manufacturing and commercialization of earthmoving machines, undercarriages and spare parts.
Following the close of the transaction, CNH - an Italian-American multinational corporation with headquarters in the UK - will obtain 100% control of the company over four years.
This acquisition will enable CNH Industrial’s construction equipment business to integrate Eurocomach mini and midi excavators, Sampierana undercarriages and spare parts into its current product portfolio alongside those of its existing third-party OEM partners.
According to CNH Industrial, Sampierana’s broad product portfolio, high customization capacity and existing electric power prototypes are an ideal fit with the company, and will augment CNH’s in-house product and technology offerings.
“This latest strategic acquisition will further accelerate the profitable growth of our construction equipment business.
“Sampierana’s exceptional portfolio solidifies our presence in critical market segments and provides our dealers and customers access to industry-leading products backed by our brand, distribution and manufacturing experience,” said Scott Wine, CEO of CNH Industrial.
“I want to thank Stefano Pampalone, president construction, and his team, both for driving this deal to completion and for their excellent work turning around our construction business, right-sizing the footprint and returning it to profitability – an impressive achievement given the challenging period.”
Sampierana has its headquarters and production sites in Italy, as well as a fully controlled subsidiary with production facilities in Kunshan, China.
The debt and cash-free consideration for the total transaction will be equal to $120.7 million, subject to certain closing and post-closing adjustments. The consideration will be funded with available cash on hand of CNH Industrial.
The deal is expected to be closed in the fourth quarter of 2021, subject to the satisfaction of customary closing conditions.