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Friday 23 November 2012

Acquisition of SEA Group

Acquisition of SEA Group

Trigano announces the acquisition of 100% of the capital and the financial debt of SEA Group, Italian manufacturer of motor caravans based in Poggibonsi in the Siena province.

SEA employs 365 persons and sold about 3,200 motor caravans in 2012 under the brands McLouis, Elnagh and Mobilvetta for total sales of €130 M. The group has been in difficulties since 2006, due mainly to the decrease of the Italian motor caravan market, a very high debt level with unfavourable financial terms and management instability.

In addition to the reinforcement of Trigano’s market shares, this acquisition will allow to generate several synergies (purchasing, manufacturing, commercial) that should more than offset the current operating losses of SEA.
The impact of this operation on net consolidated debt is estimated at about €15 M.

The acquisition of SEA, which closing is subject to the agreement of the German and Italian competition authorities, is part of Trigano’s strategy of development through external growth in the fields of leisure vehicles, accessories for leisure vehicles and trailers.  

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