FAAC Group has exited Somfy from FAAC Share Capital

Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that FAAC Group (“FAAC” or the “Company”) and Somfy (EPA: SO) have unwound their reciprocal shareholdings; therefore, Somfy has exited the capital of FAAC (of which it held 34%) and FAAC has exited the capital of Somfy (of which it held 7.3%).

As consideration, Somfy received the 571,400 Somfy shares held by FAAC and a balancing cash adjustment, for a total transaction value of approximately Euro 167 million. The sole shareholder of FAAC Group is now the Archdiocese of Bologna.

FAAC is a pioneer in the automated systems industry for the control of pedestrian and vehicle access in both residential and commercial application. Founded in 1965 and located in Zola Predosa (Bologna), Italy, today FAAC has approximately 2,000 employees, 18 production plants and 32 foreign subsidiary companies throughout the world, as well as annual revenues of approximately Euro 330 million.

Commenting on the deal, Andrea Moschetti, Chairman of FAAC Group, said, “Lincoln generated excellent work quality and maintained a strong level of communication throughout the process, which helped us navigate through intense negotiations to a successful close, while maximizing value and optimizing terms for our shareholders.”

Lincoln acted as the exclusive financial advisor to FAAC, working closely with the Company’s board of directors and management team throughout the sale process. This included providing advisory expertise and managing the preparatory and negotiation phases of the transaction. Lincoln also assumed an integral role in negotiation of financial aspects of the deal.

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