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Ima closes acquisition of the majority of Atop from Charme Capital Partners

Ima Atop

BOLOGNA, Italy — On 2 July, 2019, Ima completed the closing with Charme Capital Partners Srg (the pan-European mid-market private equity firm) and with the founders of the company for the acquisition of 63% of Atop, based in Barberino Val d’Elsa (Florence) and a leading company in the sector of automatic machines and lines for the production of electric motors for the automotive sector and, in particular, for E-traction.

As a result, Ima, which was already a shareholder of the company since 2017 with a 21% stake, now has a total interest of around 84%.

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Ima’s investment amounted to around 230 million euros, all of which was paid at the closing date.

Put & Call options were also taken out on the shares reinvested by the founding shareholders for a total of 6% of the capital, to be exercised after the date of approval of the financial statements at 31 December 2021.

For 2019, Atop expects revenues of 89 million euros (up 50% compared with 60 million in 2018), an Ebitda of 25 million euros (up 59% compared with 15.8 million in 2018), approximately 250 employees (with more than 50 new hires in the last two years) and a net financial debt of 13.5 million euros.