Standex International Corporation, a New Hampshire-based multi-industry manufacturer announced that it has acquired Italy-based Piazza Rosa Group, a leading provider of mold and tool treatment and finishing services for the automotive and consumer products markets with operations in Queretaro, Mexico.
Privately held Piazza Rosa Group reported consolidated revenues of US$ 11.7 million for the year ended December 31, 2016. The acquisition is expected to be accretive to earnings starting fiscal year 2018. Piazza Rosa’s senior management team will be continuing with the company. Other terms of the transaction were not disclosed.
Piazza Rosa’s capabilities include polishing, laser welding, laser hardening, laser cladding and repair / maintenance services. The combination of these competencies with Standex Engraving’s worldwide presence and texturizing capabilities creates a strong global tool finishing service supplier and opens additional opportunities in the broader surface engineering market.
“Piazza Rosa’s treatment and finishing services are highly complementary to our capabilities and provide us with an opportunity to drive sales and profitability growth by offering additional value to our customers around the globe. We welcome Piazza Rosa’s management and team of approximately 140 employees to the Standex family,” said Standex Chief Executive Officer David Dunbar in a public statement.
“The ability to quickly incorporate Piazza Rosa’s capabilities across our network in approximately 40 countries is a powerful opportunity,” added Standex Engraving President Flavio Maschera. “Piazza Rosa’s offerings will provide significant value to our combined customers across automotive, packaging and consumer end markets.”
Standex International Corporation is a manufacturer with operations in the United States, Europe, Canada, Australia, Singapore, Brazil, Argentina, Turkey, South Africa, India, Japan, China and Nogales, Sonora.
The company focuses in five broad business segments: Food Service Equipment, Engineering Technologies, Engraving, Electronics and Hydraulics.