Prima Industrie acquires Finn-Power

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Italy headquartered Industrial laser equipment specialist Prima Industrie has completed the acquisition of Finnish sheetmetalworking specialist Finn-Power Oy.

With the completion of the €170 million deal, Prima Industrie group will have annual sales exceeding €400 million, a presence in 50 countries, 10 manufacturing facilities located in Italy, Finland, USA and China, and more than 1,700 employees worldwide. Headquartered in Finland, Finn-Power operates manufacturing plants in Italy and Finland, as well as subsidiaries in Italy, Germany, France, Belgium, Spain, USA and Canada. The company’s range of sheet metal working equipment includes punch presses, integrated punching and shearing cells, punching-laser cells, automatic bending cells and related material handling systems. Finn-Power has also developed a reputation for its custom-engineered flexible manufacturing systems and the versatility of its products. In addition, it has limited operations in Prima’s core business competence of laser cutting equipment. Finn-Power’s principal markets mirror those of Prima Industrie group, with customers throughout the telecommunications, HVAC, electrical, lighting, agricultural equipment, domestic appliance and metal furniture sectors. “Prima is the perfect partner for Finn-Power from the technological and product point of view. Synergies arising from this integration represent an outstanding opportunity,” said Tomas Hedenborg CEO of Finn-Power. “The acquisition is in line with Prima Industrie’s growth strategy in complementary sectors,” added Gianfranco Carbonato, the group’s chairman and CEO. “I am confident that it will bring significant value to all our stakeholders.” * Finn-Power UK agent is Press & Shear Machinery