Sabaf acquires 100% of the capital of Fabriano’s PGA srl, which has been designing and assembling electronic boards for the household appliances sector for 25 years: suction, refrigeration, air quality control and water supply. PGA2.0 is part of PGA dedicated to the design and prototyping of innovative solutions based on interconnection and the Internet of Things (IoT).The two companies have 36 employees and in 2021 they had a turnover of 11.5 million. The agreement evaluates the company of the brothers Andrea and Paolo Cennimo for 9.76 million euros: 5 times the average annual consolidated Ebitda in the three-year period 2020-2022. 75% of the price will be paid in cash and the rest through the sale of Sabaf shares. Andrea and Paolo Cennimo will remain at the helm of PGA as Managing Directors.
The Sabaf Group is already active in the electronics sector through the Turkish subsidiary Okida Elektronik, a company acquired in 2018 and which is experiencing rapid business development, also thanks to the contribution of Sabaf’s global sales network