Acquisition of Vitrociset: agreement between Fincantieri and Mer Mec
Tuesday, August 7, 2018 4:34 PM
Fincantieri, one of world’s leaders in shipbuilding, and Mer Mec, world leader in measuring trains and safety systems – company belonging to the Angel group of Vito Pertosa, a high-tech industrial player that designs and develops high-tech solutions for the Aviation, Space, Transport, Survey and Internet of Things – have signed an agreement for the joint and equally split acquisition of 98.54% of Vitrociset, company involved in training and support in the ICT field in the defence and security market, as well as in logistics, transport and space sectors.
Vitrociset is active in the field of automation, command and control systems design, in test activities, simulation and training, as well as in the development of security systems of data distribution through the three Business Units, Defence & Security, Space & Big Science and Transport & Infrastructure. The company targets highly competitive and extremely diversified markets, and it supplies a wide range of institutional and corporate customers, government bodies, including the Ministry of Defence, the Italian Army, the Nato Support Agency, the European Space Agency and Lockheed Martin, to name but a few. It employs about 800 people and has generated revenues for approximately 163 million euros in 2017, with an increase expected in 2018.
The closing of the transaction is subject to conditions customary for this kind of transactions, including the non-exercise of the golden power by the Italian Government.
With this transaction, Fincantieri will strengthen its product and service portfolio within the Services division, creating a center of excellence with a very high technological content dedicated to defense systems engineering.
The CEO of Fincantieri, Giuseppe Bono, stated: “Acquiring an important company as Vitrociset has a significant strategic value. This transaction will not only allow us to broaden and enhance our skills as well as those of our subsidiaries we work with in these fields, but also to increase the range and quality of our offer and to have access to a highly qualified workforce. This acquisition therefore fits fully into the strategy, already launched by Fincantieri, to strengthen our skills in order to provide our customers with the logistic support which is essential for the operation of naval vessels".