Closing executed according to the timeframe announced at the signing. The Padua-based listed company therefore adds Portugal to its international presence, with a water meter production site of approx. 11 thousand square metres with 250 staff.
Highlights of the acquisition:
● Janz is a consolidated European manufacturer and distributor of residential volumetric water meters
● Janz reported in 2019 revenues of Euro 18.6 million and an EBITDA of Euro 4.0 million, with a CAGR over the last five years respectively of approx. 9% and 23%;
● The 100% acquisition of Janz was funded by a new credit line which SIT will obtain
from the banks involved in the current syndicate;
● The value of the acquisition is Euro 28 million (cash & debt free).
Padua, December 30, 2020 – SIT S.p.A., a multinational listed on the Italian Stock Exchange which, through its Heating and Smart Gas Metering divisions, creates intelligent solutions for the control of environmental conditions and consumption measurement, has completed the acquisition of 100% of Janz-Contagem e Gestão de Fluídos S.A., a consolidated Portuguese player owned by the Janz family and specialised in manufacturing residential water meters.
