CNH Industrial acquires Sampierana
By Roberta Prandi30 August 2021
CNH Industrial is to purchase 90% of the capital stock of Sampierana S.p.A., a privately-owned Italian company that specialises in the development, manufacturing and commercialisation of earthmoving machines, undercarriages and spare parts, and to obtain 100% control of the company over four years following closing of the transaction.
“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, rightsizing the footprint and returning it to profitability – an impressive achievement given the challenging period.”
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 customisation capacity, and existing electric power prototypes are an ideal fit with the company, and will augment CNH’s in-house product and technology offerings.
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 €101.8 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.
CNH Industrial N.V. is an Italian American multinational corporation, with global headquarters in the UK.