Stellantis sells Comau robots to Americans
The Turin-based Comau passes 50.1% to the One Equity Partners fund. Stellantis retains 49.9%
Stellantis has sold the majority of Comau to the American firm of One Equity Partners (OEP), a middle-market private equity company that now holds 50.1% of the company specialising in industrial automation and advanced robotics.
Stellantis remains with 49.9%, thus remaining in the company as an active minority shareholder and to 'focus on its core business in Europe'. This means that the sale transaction, which has received approval from Europe and the Italian government (ready to exercise its Golden Power), should guarantee a future for Comau's operations and allow the Italian-French car giant to devote more attention to the critical phase affecting the automotive sector in the Old Continent.
Comments from interested parties
Announcing the sale of Comau, the company that makes the famous industrial robots for assembling cars and batteries, Stellantis chairman John Elkann said:
"I want to express my gratitude to the employees of Comau for providing innovative products and services to all its customers. I am confident that Comau, through its new ownership, possesses the right leadership, strategy and operational discipline to create sustainable, long-term value for all its stakeholders in Italy and around the world."
Equally optimistic is the comment of Comau's ceo, Pietro Gorlier, who added:
"Comau has been able to constantly renew its innovation and business strategies, developing new technological solutions with which to respond to changing market dynamics thanks to its more than fifty years of experience in international markets. The completion of this transaction represents another fundamental step in Comau's growth path.
The support of One Equity Partners will enable us to capitalise on the growing global demand for advanced automation, with Stellantis as an active minority shareholder. This transaction protects our strong Italian roots, reaffirming Comau's position as a global player in industrial automation, as well as in a growing number of different sectors."
From the US buyer's side comes instead the comment of Ante Kusurin, Partner at One Equity Partners:
"Comau is a leading industrial automation company with significant growth potential and high-level robotics technology. OEP has the resources to support Comau's next phase of growth as an independent company, thanks to its proven track record in the sector and its established operational playbook for carve-out transactions."
What future for the 850 employees in Grugliasco?
Remember that Comau, founded in Turin in 1973, is still headquartered in the Piedmontese capital, where the Grugliasco headquarters and research, development and production hub is located.
This is where 850 employees work and they have been asking for a long time that the headquarters not be moved after the change of ownership.
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