Enertronica S.p.A. (“Enertronica” o “the Company”), operating in renewables, energy saving sector and in design and production of electro-mechanical systems, announces that a preliminary contract for brand and know-how acquisition from Tecnobus SpA was signed today. The contract is binding exclusively for the seller.
Tecnobus SpA pioneered the production of electric buses both in Italy and internationally, boasting over 500 electric vehicles sold in Italy abroads, in countries like Canada, France, Germany and Portugal.
The plan includes the setup of BusX, a new company that will be 85% owned by Enertronica, with the mission to produce and sell exclusively small electric buses and electric special commercial vehicles. The goal is to make BusX one of the European leader in its segment within 3 years. The development of the project will count on about Euro 5 million investments in 2018-2021, mainly aimed at revamping the product range and supporting R&D, of which the acquisition of brand and know-how will represent about Euro 800k.
The NewCo shall have rapid growth potential, thanks to development and restyling of products Tecnobus currently markets and sells, planning to launch the first restyled product within 3 months from acquisition, thus targeting a possible profit in the first financial year.
Final closing shall take place within 4 months from today’s preliminary contract, and subject to satisfactory completion of technical due diligence, and to confort in the financial sustainability of the venture. The deal is coherent with Enertronica Group’s business plan, focused on the growth of high-tech industrial business along with EPC operations in renewable energy. In the specific case of electric mobility, the Group can already count on specific business lines, operating within its subsidiary Elettronica Santerno, a market leader in design and production of systems and components that are key to the eMobility industry.
Vito Nardi, CEO of Enertronica SpA comments: “Entering the Electric Mobility industry was one of the goals of our recent business plan. The sector requires high-tech, innovation and infrastructure: all key ingredients in the recent success of Enertronica and mostly critical for this new, highly exciting venture”.