STEMMER IMAGING AG acquires ELVITEC S.A.S.
Puchheim, 10th July 2018 | 16:08 - STEMMER IMAGING S.A.S., a wholly owned subsidiary of the publicly traded STEMMER IMAGING AG (ISIN DE000A2G9MZ9/WKN A2G9MZ) has today acquired 100 per cent of the shares in the French ELVITEC S.A.S. in a share deal. The acquisition of the former competitor is the continuation of the strategy announced at the time of the IPO of realising non-organic growth potential.
The French distributor ELVITEC S.A.S. was founded in 2002 and is an established provider of machine vision products and services in France. Its customers include mechanical engineering companies (OEMs), system integrators and industrial groups for companies with machine vision expertise.
The Management Board of STEMMER IMAGING AG expects the acquisition of the distributor to result in an anticipated additional revenue contribution of around EUR 9 million and an EBITDA margin at ELVITEC of around 11 per cent in the 2018/2019 financial year. The company is consolidated retrospectively from 1 July 2018. Both parties have initially agreed not to disclose the purchase price.