In late June, Legris Industries achieved another milestone in its growth strategy by acquiring MEP Group, an Italian company with consolidated sales of €52 million and a workforce of 280. MEP designs and manufactures precision metal-cutting equipment for steel, aluminium and other metal alloys, providing automatic and semi-automatic equipment and solutions to many industries, including construction, automotive, mechanics, Oil & Gas…
Thanks to its innovative capacity, its diverse range of reliable products and its modern production infrastructure, MEP Group is now a major global player in its market, with industrial sites and sales units in Italy, Canada, the United States, China and Brazil. Through its network of distributors, the many products offered under the MEP and HYDMECH brands are sold in over 60 countries.
As a part of Legris Industries, MEP will be able to step up its growth by tapping into Group resources. In the past two years, MEP’s business has expanded by more than 25%, and the Group will work with its existing management team, led by William Giacometti, to continue that growth.
Last year, Groupe Legris Industries achieved several major milestones in its strategy of growth and redeployment, including the November 2018 sale of its Savoye Division. The disposal had a significant impact on its 2018 financial statements, pushing sales down to €165 million and putting operating profit at €10 million. Net income, including a significant capital gain from the sale, is up sharply at €43 million, and Groupe Legris Industries is using these resources to advance its strategy of growth through diversification of its activities. Acquiring MEP, which has a strong pattern of repeat business, is its first step in this direction in 2019.
Erwan Taton, Chairman of the Groupe Legris Industries Executive Board: « In acquiring Mep, we are pursuing our diversification strategy by integrating a company that meets all of our investment criteria. A major player in a worldwide niche market, Mep has powerful technical expertise that generates continuous innovation to drive growth. »
Stefano Guidotti, managing partner of the seller Aksia Group, a leading Italian private equity player: « We are really proud of having contributed to the growth and internationalization of our portfolio company and firmly convinced that Legris Industries is a perfect fit to bring Mep Group up to a further phase of development.»
William Giacometti, CEO of MEP Group: « To join Groupe Legris Industries is for MEP a great opportunity and will have a positive effect in the acceleration of our growth path that has already started in the last years. We are very thankful to AKSIA Group and to Groupe Legris Industries that made this possible. »