Press Releases


CIE Automotive acquires the Italian company Somaschini


The integrated business is specialized in the manufacture of gears and has plants in Italy and the USA.


Bilbao, 25.9.2019 – CIE Automotive has announced today the acquisition of 100% of the share capital of Somaschini S.p.A. (hereinafter, "Somaschini").

The value of the transaction (enterprise value) amounts to 79.6 million Euros, equivalent to less than 5 times the EBITDA of the current year, and will be adjusted upon the closing date based on its indebtedness, as usual in this type of transactions. The price of the transaction will be paid by CIE Automotive in cash upon the closing date and will be financed through currently available cash.

With nearly 300 employees and estimated 2019 sales of approximately 70 million Euros, Somaschini has three production plants, two in Bergamo (Italy) and another one in Indiana (USA). The company is specialized in the manufacture of gears, whose applications include sectors such as transportation and automotive, as well as industry or robotics.

According to Jesús María Herrera, CEO of CIE Automotive, “The integration of Somaschini with our Italian Metalcastello plant and our Indian gears division means the creation of a world top player of gears with presence in the three big markets –
Europe, North America, Asia – and in several segments – automotive, industrial vehicle, agricultural, off road –, which is currently a huge competitive advantage to offer global supply to our customers."

The closing of the transaction is subject to the fulfillment of the usual conditions in this type of transactions and will take place in 2020.

Somaschini SpA and the sellers has been advised by Credit Suisse AG (financial advisor) and Chiomenti (legal advisor).