News

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.

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Cristina Fagioli
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