SIT Group is an Italy-based manufacturer of power transmission products and active in Europe, North America, Asia and Australia. With its current market capitalization of €272m (September 2017) the Equity Value increased by almost 60% since the announcement of the combination with Industrial Stars of Italy 2 only a few months ago on 31 March 2017.
The Business Combination was approved by 100% of the funds raised at the Industrial Stars of Italy 2 IPO, launched May 2016. It provided Industrial Stars of Italy 2 shareholders a 25.9% stake in the company, valued at the time at €172.5m (6.75x Equity Value/ EBITDA 2016).
The proceeds of the SPAC were used to support SIT Group’s growth plans. SIT Group already has two concrete acquisition targets lined up.
SIT Group’s current main shareholders are the Stefani family, Momentum Alternative Investments, Ersel Asset Management and Symphonia SGR.
For more information see SIT Group website: http://www.sitgroup.it/en/