CNH Industrial signs agreement to acquire excavator manufacturer Sampierana S.p.A

Rhea-AI Summary

CNH Industrial N.V. (NYSE: CNHI) has announced the acquisition of 90% of Sampierana S.p.A. for €101.8 million, aiming to boost its construction segment capabilities and market presence. The deal allows CNH to fully control Sampierana within four years. This acquisition will enhance CNH's product offerings, particularly in mini and midi excavators, supporting its growth strategy in high-demand markets. The closing is expected in Q4 2021, pending customary conditions.

Positive

• Acquisition of 90% of Sampierana enhances CNH's construction segment.
• Transaction value of €101.8 million strengthens market position.
• Integration of Sampierana's products improves existing offerings.
• Expansion into high-demand markets for mini and midi excavators.

Negative

• None.

With this acquisition, the Company will enhance its offering in the construction segment, gaining greater in-house capabilities, control over the value chain, and market share opportunities.

London, August 30, 2021

CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) announces the execution of an agreement to purchase 90% of the capital stock of Sampierana S.p.A., a privately-owned Italian company that specializes in the development, manufacturing and commercialization of earthmoving machines, undercarriages and spare parts, and to obtain 100% control of the company over four years following closing of the transaction.

The debt and cash free consideration for the total transaction will be equal to €101.8 million subject to certain closing and post-closing adjustments. The consideration will be funded with available cash on hand of CNH Industrial. Closing is expected to occur in the fourth quarter of 2021, subject to the satisfaction of customary closing conditions.

“This latest strategic acquisition will further accelerate the profitable growth of our construction equipment business. Sampierana’s exceptional portfolio solidifies our presence in critical market segments and provides our dealers and customers access to industry-leading products backed by our brand, distribution, and manufacturing experience,” said Scott Wine, Chief Executive Officer of CNH Industrial. “I want to thank Stefano Pampalone, President Construction, and his team, both for driving this deal to completion and for their excellent work turning around our construction business, rightsizing the footprint and returning it to profitability – an impressive achievement given the challenging period.”

Recognized in the construction sector for its line of Eurocomach mini and midi excavators and for special undercarriages, Sampierana Group has recorded excellent performance year-over-year, particularly in Europe, and is acknowledged for its reliability, quality and innovative technology. Its broad product portfolio, high customization capacity, and existing electric power prototypes are an ideal fit with CNH Industrial’s customer-centric and sustainable approach, and substantially augment the Company’s in-house product and technology offerings.
This acquisition will enable CNH Industrial’s Construction Equipment business to integrate Eurocomach mini and midi excavators, Sampierana undercarriages and spare parts into its current product portfolio alongside those of its existing third-party OEM partners. It confirms CNH Industrial’s commitment to invest in and grow its construction equipment business, better positioning it in the high-demand mini and midi excavator market.

Sampierana is based in Italy with its headquarters and production sites. Furthermore, it operates a fully controlled subsidiary with production facilities in Kunshan, China.

CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com

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Contacts:

Corporate Communications
Email: mediarelations@cnhind.com

Investor Relations
Email: investor.relations@cnhind.com

Attachment

• 20210830_PR_CNH_Industrial_CE_Sampierana

FAQ

What did CNH Industrial announce on August 30, 2021?

CNH Industrial announced the acquisition of 90% of Sampierana S.p.A. to enhance its construction segment.

What is the value of the acquisition of Sampierana by CNH Industrial?

The acquisition of Sampierana is valued at €101.8 million.

How will the acquisition impact CNH Industrial's market presence?

The acquisition is expected to strengthen CNH Industrial's market position in the construction segment.

When is the expected closing date for the Sampierana acquisition?

The closing of the acquisition is expected in the fourth quarter of 2021.

What products will CNH Industrial integrate from Sampierana?

CNH Industrial will integrate Eurocomach mini and midi excavators and Sampierana undercarriages and spare parts.