December 16 2013
Mitsubishi Electric acquires 80% of Klimat-Fer Translink exclusive financial adviser to the sellers
Translink Strempel & Co. announces signing of the contract for the acquisition of 80% of the share capital of Italian railcar air-conditioning systems manufacturer Klimat-Fer S.p.A. by Mitsubishi Electric Corporation. Listed on the Tokyo stock exchange, Mitsubishi Electric of Japan has a market capitalisation of 19 billion euros and revenues of 26 billion euros and is a world leader in air conditioning for railway transport.
The acquisition will bolster both companies’ market position in Europe as well as local sales, production, and after sales support. Klimat-Fer’s plant in Padua (Italy) will be the manufacturing center all of the European production of Mitsubishi’s air-conditioning for railway systems, with expected revenue growth of 50 million euros in three years. The Padua plant will start working on two shifts (currently one-shift) with 50 new hires to take place.
Matteo Todesco, current majority shareholder of Klimat-Fer, will remain as Chief Operating Officer and Board Member.
Klimat-Fer has had a presence in Italy for over half a century. Its railcar air-conditioning systems business has been ranked at the top of the market in Italy due to its cutting edge technology and product reliability and is one of the top five companies in the sector in Europe. Mitsubishi Electric’s experience and advanced technological knowledge will leverage Klimat-Fer’s business in the areas of innovation and sales, both enhancing its business structure in Europe and the expansion of its global transportation systems business.
Translink Strempel acted as exclusive financial adviser to Klimat-Fer and to the sellers, with a team composed of Alberto Parisi Presicce (Partner), Mauro Bussotti (Associate Partner) and Giovanni Galli (Analyst). Mitsubishi was chosen as partner by Klimat-Fer after a thorough selection made by Translink among potential partners in 15 different countries.
To date, Translink Strempel and other international offices of Translink Corporate Finance have acted as advisors in over 50 Mergers & Acquisitions during 2013.
Press OfficeCristina Fagioli
T. +39 02 94555600
- "The Translink team executed the entire transaction process. I can warmly recommend them for any Corporate Finance-assignments"
Chairman of the Board, Anneli Koivunen,
- "Translink’s advisory ensured successful sales process completion with the terms that satisfied all the owners."
CEO and founder, Tomi Pulkki,
- "Translink Peakstone’s thoughtful guidance and dedication throughout the entire process were critical to achieving a very successful outcome that met all of our transaction objectives."
CEO, Mike Gibney,
- "Translink is a determined advisor. The outcome of the transaction was in line with our expectations. I believe the transaction will ensure Amomatic even better chances for continuous growth and development"
Former Chairman of the Board,
Olavi Ruokonen, Amomatic Oy
- Translink announces that it has successfully completed the first phase of its mandate to support Omecs S.r.l., in obtaining important financial resources for its development and expansion. Omecs is a company active in the field of organic and luxury cosmetics. Translink has now begun the second phase of looking for a financial/industrial partner.
- Translink advises the owners of 3st kommunikation on selling a majority stake to fazit communication, a portfolio company of F.A.Z.-Group.
- Translink acted as a financial advisor to OMB Self Storage, S.L. in the sale of a 100% stake to Safestore Holdings.