Italian manufacturer Ceme Group has completed its acquisition of ODE, a designer of valves and systems for fluid controls for applications in the coffee, beverage and vending sectors.
The deal also includes ODE’s subsidiary company ACL and the Chinese division ODE-HK.
Founded in 1960, the group specialises in the production of pumps and solenoid valves. ODE has three industrial plants, 750 employees and a reported turnover of over €80 million.
With the transaction completed, ODE has become a part of Ceme, a manufacturer of pumps, valves and instrumentation for fluid control.
The acquisition will enable Ceme to further expand its commercial and industrial presence, as well as its production capacity of pumps and solenoid valves for applications in the coffee, vending, beverage, refrigeration and water-management sectors.
The combined group will have 1,650 employees and over €250 million in turnover.
“This acquisition represents a fundamental step for Ceme, because it allows us to add to our offer a range of products that are totally complementary to those already present in our portfolio,” said Roberto Zecchi, CEO of Ceme, which is controlled by the Investindustrial fund.
“Thanks to the strategic and financial support of Investindustrial, we have embarked on a path of internal and external growth that has led us to strengthen and consolidate our leadership in the segments and markets in which we operate,” he added.
© FoodBev Media Ltd 2020
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