CNH Industrial Signs Agreement to Acquire Excavator Manufacturer Sampierana S.p.A
CNH Industrial N.V. has reached an agreement to purchase 90 percent of the capital stock of Sampierana S.p.A., a privately owned Italian company that specializes in the development, manufacturing and commercialization of earthmoving machines, undercarriages and spare parts, and to obtain 100 percent control of the company over four years following closing of the transaction.
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. Closing is expected to occur in the fourth quarter of 2021, subject to the satisfaction of customary closing conditions.
“This latest strategic acquisition will further accelerate the profitable growth of our construction equipment business,” said Scott Wine, CEO of CNH Industrial. “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. 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.”
Recognized in the construction sector for its line of Eurocomach mini and midi excavators and for special undercarriages, Sampierana Group has recorded excellent performance year-over-year, particularly in Europe, and is acknowledged for its reliability, quality and innovative technology, CNH said. Its broad product portfolio, high customization capacity, and existing electric power prototypes are an ideal fit with CNH Industrial’s customer-centric and sustainable approach, and substantially augment the company’s in-house product and technology offerings.
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. It confirms CNH Industrial’s commitment to invest in and grow its construction equipment business, better positioning it in the high-demand mini and midi excavator market.
Sampierana is based in Italy with its headquarters and production sites. It also operates a fully controlled subsidiary with production facilities in Kunshan, China.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.