Samiro Group S.p.A., holding company of Ravaglioli Group (“Ravaglioli”), controlling: Ravaglioli S.p.A. (BO), Butler (RE), Sirio (FE) and Space (TO), announced today to have sold the entire stake of the company to the American group Dover Corporation (NYSE:DOV), a global company with a business that is active in the production of vehicle service equipment. Ravaglioli will join Dover’s Vehicle Service Group (“VSG”), a business unit of the Engineered Systems segment.
Founded in 1958 and headquartered in Bologna (Italy), Ravaglioli is a leading manufacturer of vehicle service equipment, including automotive lifts, wheel and tire equipment and diagnostics for cars, trucks, commercial vehicles and motorbikes. Ravaglioli’s products, technologies and customer base are highly complementary with VSG’s. Together, VSG and Ravaglioli will offer a best-in-class suite of products to customers around the world.
Ravaglioli has manufacturing operations in Italy and trading subsidiaries in France, Spain, Germany, UK and USA. Ravaglioli employs more than 650 employees across the region. Annual revenue for Ravaglioli in 2016 is estimated to be approximately EUR 150 million (approximately USD $165 million).
Dover Corporation is a diversified global manufacturer with annual revenue approaching $7 billion. Dover delivers innovative equipment and components, specialty systems and support services through four major operating segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. Dover combines global scale with operational agility to lead the markets it serves. Recognized for an entrepreneurial approach for 60 years, its team of 26,000 employees takes an ownership mindset, collaborating with customers to redefine what’s possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under “DOV.”
Ravaglioli was advised by K Finance, partner of Clairfield International, as financial advisor. The law firm NCTM acted as legal counsel while Deloitte performed the vendor due diligence.