Firenze, February 8, 2008 – 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 closed today the agreement for the acquisition of 51% of Grupo Laser Idoseme 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, revenues have been 16 millions of Euros, with an EBIT of roughly 1,5 millions of Euro (unaudited) . The net financial position is substantially even.
The founders retain the minority position, and within the group governance, they will manage the operations of GLI.
The contract provides for a total price of about 3,8 millions of euro, payable in several instalments partially subject to earn out clauses. The payment of the first 765 thousands euro instalment has been effected today.