Firenze, December 20, 2007 – El. En. Spa , leader on the laser market and listed on the Star segment of the Italian Stock Exchange, announced today that its controlled company Quanta System SpA executed today the agreement for the acquisition of 51% of Grupo Laser Idroseme SL (GLI) , its distributor for the Spanish market.
Form its premises in Donostìa - San Sebastian, GLI distributes on the Spanish territory the laser systems developed and produced by Quanta System, together with other high tech equipment for medical and aesthetic applications. For the fiscal year 2007, expected revenues are 16 millions of Euros, with an EBIT of roughly 1,4 millions of Euro. The net financial position is substantially even.
The founders will retain the minority position, and within the group governance, they will manage the operations of GLI.
The agreement provides for a total price of about 3,8 millions of euro, payable in several instalments partially subject to earn out clauses. The agreement schedules the completion of the due diligence process within the month of January, 2008, in order to close on January 31st, 2008, and contingently provide the payment of the first 765 thousands euro instalment.
The General Manager of Quanta System, Ing. Paolo Salvadeo, said "we are pleased to announce this acquisition, which strengthens our lengthy and fruitful business partnership with GLI, establishing a stronghold on one of the most brilliant markets for light based medical and aesthetic applications, where we are looking forward to capitalizing on the important market synergies that the agreement allows".