Biesse S.p.A. has this week signed a contract for the acquisition of 100% of the Italian Uniteam S.p.A. - Thiene (VI).
Since 1991, Uniteam has specialised in the design and production of numerically controlled multi-axis work centres designed specifically for the wood construction sector and for advanced materials processing with special applications ranging from the automotive sector to the bio-medical, nautical and aerospace sectors.
The settlement terms for the acquisition are for a cash investment -on signing of the acquisition contract- of Euro 2.1 million. The contract also provides for an earn-out payment of up to Euro 0.6 million, conditional on the achievement of pre-determined economic targets for the current year.
As Biesse states in a press release, this acquisition will allow the company to expand its product range and penetrate the strategically important niche sector of wood carpentry (beams and structural facades) and to broaden its presence in the advanced materials, plastics and composites sector.