One Equity Partners Invests in Comau to
Foster Greater Growth in the Italian Industrial Automation
Leader
- One Equity Partners (OEP) will become
majority shareholder of Comau; Stellantis will remain an active
minority shareholder
- The spinoff of Comau is part of the
strategic agreement signed when Stellantis N.V. was formed in
January 2021
- Under the new ownership, Comau will
have access to additional funds as appropriate to enhance and
expand its Italian roots, and to grow its competencies in
diversified sectors
- Executive team, including Executive
Chairman and CEO, will remain intact after closing
AMSTERDAM, July 25, 2024 –
Stellantis N.V., one of the world’s largest automakers and mobility
providers, and One Equity Partners (“OEP”), a middle market private
equity firm, today announced that OEP has signed a binding
agreement to make a majority investment in Comau S.p.A. (“Comau”),
a global technology company specializing in industrial automation
and advanced robotics. The spinoff of Comau is part of the
strategic agreement set during the merger between former FCA and
Groupe PSA in January 2021 that formed Stellantis N.V. Financial
terms of the private transaction were not disclosed.
“Comau has positioned itself as a recognized
player in the field of automation solutions over the past 50
years,” said Stellantis CEO Carlos Tavares. “This planned
transaction is designed to help Comau achieve autonomy and further
strengthen its success in support of all its stakeholders,
specifically for their employees and customers. It also gives
Stellantis the ability to focus on core business activities in
Europe.”
“Comau is a leading-edge industrial automation
company with first-rate robotics technology that has tremendous
growth potential,” said Ante Kusurin, Partner, One Equity Partners.
“We have deep expertise in executing complex corporate carve-out
transactions, and we believe we have the resources to help position
Comau as a successful standalone business.”
“In its over 50 years of history, Comau has
consistently demonstrated the ability to transform its business,
technology and approach to innovation,” said Comau CEO Pietro
Gorlier. “This operation is consistent with Comau’s strategic plan,
which aims to expand its business beyond the automotive sector,
targeting the global demand growth for industrial automation. This
will also consolidate the company’s position as a strong
international leader in its sector, maintaining solid Italian
roots.”
Executive Chairman Alessandro Nasi and CEO
Pietro Gorlier will retain their responsibilities, as will the
Executive Team.
Comau has a local presence in all regions and a
global network that is strengthened by its business and leadership
continuity. As an autonomous company, Comau can independently
identify and pursue new opportunities and investments.
The transaction is expected to close by the end
of 2024 and is subject to regulatory approvals and other customary
closing conditions.
# # #
About ComauComau, a Stellantis
company, is a worldwide leader in delivering sustainable advanced
automation solutions. With 50 years of experience and a global
presence, Comau is helping companies of all sizes in almost any
industry leverage the benefits of automation. Backed by a
continuous commitment to designing and developing innovative and
easy to use technologies, its portfolio includes products and
systems for vehicle manufacturing, with a strong presence in
e-Mobility, as well as advanced robotics and digital solutions to
address rapidly growing markets in industrial sectors. The
company’s offering also extends to project management and
consultancy. Through the training activities organized by its
Academy, Comau is committed to advancing the technical and
managerial knowledge necessary to face the challenges related to
automation and leverage the opportunities of a constantly changing
marketplace. Headquartered in Turin, Italy, Comau has an
international network of 7 innovation centers and 12 manufacturing
plants that span 12 countries and employ 3,700 people. Together
with its wide network of distributors and partners, the company is
able to respond quickly to the needs of its customers, no matter
where they are located throughout the world.
www.comau.com
About StellantisStellantis N.V.
(NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one
of the world’s leading automakers aiming to provide clean, safe and
affordable freedom of mobility to all. It’s best known for its
unique portfolio of iconic and innovative brands including Abarth,
Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep®,
Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and
Leasys. Stellantis is executing its Dare Forward 2030, a bold
strategic plan that paves the way to achieve the ambitious target
of becoming a carbon net zero mobility tech company by 2038, with
single-digit percentage compensation of the remaining emissions,
while creating added value for all stakeholders. For more
information, visit www.stellantis.com.
About One Equity PartnersOne
Equity Partners (“OEP”) is a middle market private equity firm
focused on the industrial, healthcare, and technology sectors in
North America and Europe. The firm seeks to build market-leading
companies by identifying and executing transformative business
combinations. OEP is a trusted partner with a differentiated
investment process, a broad and senior team, and an established
track record generating long-term value for its partners. Since
2001, the firm has completed more than 400 transactions worldwide.
OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has
offices in New York, Chicago, Frankfurt and Amsterdam. For more
information, please visit www.oneequity.com.
Contacts:
ComauGiuseppe
CostabileCorporate Communication giuseppe.costabile@comau.com+39
338 7130885
StellantisFernão Silveira
Global Communications fernao.silveira@stellantis.com +31 6 43 25 43
41
Claudio D’AmicoItaly
Communicationsclaudio.damico@stellantis.com+39 334 7107828
One Equity PartnersThomas
FaustStantonTfaust@stantonPRM.com646-502-3513
Stellantis Forward Looking
Statements
This communication contains forward-looking
statements. In particular, statements regarding future events and
anticipated results of operations, business strategies, the
anticipated benefits of the proposed transaction, future financial
and operating results, the anticipated closing date for the
proposed transaction and other anticipated aspects of our
operations or operating results are forward-looking statements.
These statements may include terms such as “may”, “will”, “expect”,
“could”, “should”, “intend”, “estimate”, “anticipate”, “believe”,
“remain”, “on track”, “design”, “target”, “objective”, “goal”,
“forecast”, “projection”, “outlook”, “prospects”, “plan”, or
similar terms. Forward-looking statements are not guarantees of
future performance. Rather, they are based on Stellantis’ current
state of knowledge, future expectations and projections about
future events and are by their nature, subject to inherent risks
and uncertainties. They relate to events and depend on
circumstances that may or may not occur or exist in the future and,
as such, undue reliance should not be placed on them.
Actual results may differ materially from those
expressed in forward-looking statements as a result of a variety of
factors, including: the ability of Stellantis to launch new
products successfully and to maintain vehicle shipment volumes;
changes in the global financial markets, general economic
environment and changes in demand for automotive products, which is
subject to cyclicality; Stellantis’ ability to successfully manage
the industry-wide transition from internal combustion engines to
full electrification; Stellantis’ ability to offer innovative,
attractive products and to develop, manufacture and sell vehicles
with advanced features including enhanced electrification,
connectivity and autonomous-driving characteristics; Stellantis’
ability to produce or procure electric batteries with competitive
performance, cost and at required volumes; Stellantis’ ability to
successfully launch new businesses and integrate acquisitions; a
significant malfunction, disruption or security breach compromising
information technology systems or the electronic control systems
contained in Stellantis’ vehicles; exchange rate fluctuations,
interest rate changes, credit risk and other market risks;
increases in costs, disruptions of supply or shortages of raw
materials, parts, components and systems used in Stellantis’
vehicles; changes in local economic and political conditions;
changes in trade policy, the imposition of global and regional
tariffs or tariffs targeted to the automotive industry, the
enactment of tax reforms or other changes in tax laws and
regulations; the level of governmental economic incentives
available to support the adoption of battery electric vehicles; the
impact of increasingly stringent regulations regarding fuel
efficiency requirements and reduced greenhouse gas and tailpipe
emissions; various types of claims, lawsuits, governmental
investigations and other contingencies, including product liability
and warranty claims and environmental claims, investigations and
lawsuits; material operating expenditures in relation to compliance
with environmental, health and safety regulations; the level of
competition in the automotive industry, which may increase due to
consolidation and new entrants; Stellantis’ ability to attract and
retain experienced management and employees; exposure to shortfalls
in the funding of Stellantis’ defined benefit pension plans;
Stellantis’ ability to provide or arrange for access to adequate
financing for dealers and retail customers and associated risks
related to the operations of financial services companies;
Stellantis’ ability to access funding to execute its business plan;
Stellantis’ ability to realize anticipated benefits from joint
venture arrangements; disruptions arising from political, social
and economic instability; risks associated with Stellantis’
relationships with employees, dealers and suppliers; Stellantis’
ability to maintain effective internal controls over financial
reporting; developments in labor and industrial relations and
developments in applicable labor laws; earthquakes or other
disasters; risks and other items described in Stellantis’ Annual
Report on Form 20-F for the year ended December 31, 2023 and
Current Reports on Form 6-K and amendments thereto filed with the
SEC; and other risks and uncertainties.
Any forward-looking statements contained in this
communication speak only as of the date of this document and
Stellantis disclaims any obligation to update or revise publicly
forward-looking statements. Further information concerning
Stellantis and its businesses, including factors that could
materially affect Stellantis’ financial results, is included in
Stellantis’ reports and filings with the U.S. Securities and
Exchange Commission and AFM.
- EN-20240725-One-Equity-Partners-Invests-in-Comau