SALCEF has signed a preliminary agreement to acquire 100% of the share capital of Colmar Technik, which since 1963 has designed and manufactured rail maintenance and construction machines at its Arquà Polesine and Costa di Rovigo facilities in Italy.

“We believe that today’s acquisition has a strong strategic rationale for the group, not only because it is a further step in our external growth path but also as it is the first one in the railway machines segment, where the group already operates through its subsidiary SRT,” says Salcef group executive chairman, Mr Gilberto Salciccia.

“The integration of the newly-acquired company will allow us to expand the product range of the railway machines business unit, both for internal use and for the third-party market, as well as to leverage the commercial synergies arising from Colmar's extensive international network with offices in Britain, the United States, Russia, China and Colombia.”

According to Mr Lorenzo Peroni, SRT CEO and head of the railway machines business unit at Salcef, the Colmar product portfolio, including wheeled and tracked road-rail excavators and diesel and electric shunters, is complementary to SRT’s current product range which focuses on wagon fit-out and rail grinders.

“Thanks to the group’s expertise in the sector, along with the possibility of receiving feedback directly from our worksites, we will have the opportunity to refine and optimise Colmar’s products as well, benefitting both the group and external customers,” he says.

Colmar has around 110 staff and an order backlog of more than €40m. Annual turnover after the acquisition is expected to be at around €20m, with profitability expected in line with the Salcef average.

Of the enterprise value of approximately €25m, €2m has been paid at the signing of the preliminary agreement. The remainder will be paid at the closing of the transaction, expected to take place in August. The acquisition has been financed by Salcef from its own funds.