Antares Vision, a global leader in visual inspection systems, track & trace solutions and smart data management, has acquired 100% of Convel S.r.l. (“Convel”), an Italy-based supplier of automated inspection equipment for the pharmaceutical industry. Specializing in equipment that provides leak detection for drugs packaged in glass or plastics containers, Convel boasts an extensive sales network both in Italy and abroad, including North America.
Antares Vision has taken the next step in its strategic business diversification: an agreement has been finalized for the company to acquire 100% of FT System S.r.l. ("FT System"), an Italian company known as a leader in control and inspection in the beverage industry both domestically and internationally. The agreement was signed between Antares Vision and the shareholders of FT System, Arol S.p.A. ("Arol"), Mr. Fabio Forestelli and Mr. Ferdinando Tuberti, holders of quotas equal, respectively, to 80%, 10% and 10% of the capital of FT System. The sale of the quotas was also finalized today.
The Equity Value for 100% of FT System is 67.7 million euros. With the acquisition, Antares Vision has taken control of FT System and, indirectly, its controlled companies in France and the United States as well as related business carried out by divisions operating in Mexico, Brazil, UK, Spain, China and India.
Founded in 1998, FT System is a leader in bottling control and inspection, mainly in the beverage industry. It covers all stages of processing: container control, filling, capping, leak and pressure verification, labeling, coding, weight and palletizing.
The customer portfolio, with over two thousand companies in 60 countries and approximately 5,200 machines installed, includes large multinationals producing water, soft drinks, liquor, beer, wines, and OEMs (producers and integrators of bottling lines). The company has over 140 employees.
FT System has driven its growth by investing in the development of innovative and patented technologies such as the ROBO QCS, a non-destructive and fully automated quality control station, integrated into the production line.
Between 1st January – 31st December 2019, FT System is expected to report revenues of over 26 million euros (of which approximately 18 million euros originated abroad), an EBITDA of 6.0 million euros and an EBIT of 5.7 million euros. At the closing date, FT System recorded a positive net financial position (i.e. cash) of approximately 8 million euro.
The acquisition of FT System is part of an industry diversification strategy pursued by Antares Vision, and reflects the Group's mission to protect products throughout their entire life cycles.
FT System will allow Antares Vision i) to expand its product offerings in the beverage industry, thanks to the know-how and expertise held by the company, ii) to further extend its geographical presence, acquiring activities in new countries (Mexico, China, UK and Spain, as well as the USA, France, Brazil and India where Antares Vision is already present), iii) to increase market penetration, benefiting from the company's consolidated customer base and sales force, and iv) to develop cross selling opportunities that integrate Track & Trace solutions and Smart Data Management.
During Antares Vision’s acquisition, FT System and Arol have also signed an agreement aimed at establishing an industrial partnership, with the primary objective of building a competitive advantage in the market through a comprehensive portfolio: control and inspection to meet quality standards, product traceability along the supply chain to ensure transparency, and Smart Data Management to maximize efficiency.
Fabio Forestelli and Ferdinando Tuberti will continue to work as FT System Managing Directors, ensuring the continuity of business management and accompanying the development project underlying the agreement with Antares Vision.
"The agreement with FT System will allow us to launch a development project in the beverage industry that is unique in terms of the breadth and the quality of the offer and its geographical extension," Emidio Zorzella, CEO of Antares Vision. "Our strategy to diversify the reference industries is also based on identifying partners such as FT System, that combines solid know-how, experience and technological innovation capacity".
Fabio Forestelli, CEO of FT System, declared “We found in Antares Vision the ideal qualities to boost our growth. I am sure that together we will be able to enhance our potential and build a solid competitive advantage in the beverage industry in Italy and abroad ".
Antares Vision was assisted in the acquisition transaction by Mediobanca (Financial Advisor), Orsingher Ortu (Legal Advisor), NCTM (Fiscal Due Diligence) and New Deal Advisors (Financial Due Diligence).
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Two Italy-based equipment solutions leaders to bring digital innovation into sectors with high growth potential. Their five-year agreement makes Antares exclusive supplier of all inspection and tracking technologies, and lays groundwork for innovative jointly-developed solutions.
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Antares Vision to mark 10 year anniversary with partner presentations & equipment demos
Open House Festivities Scheduled for October 18 at Antares Vision’s U.S. Headquarters in Moorestown, New Jersey. Antares Vision, the world’s leading provider of serialization-based track & trace solutions for the pharmaceutical industry, will celebrate its 10-year anniversary on October 18 with a series of presentations, live equipment demonstrations and networking opportunities. The day-long event will take place at Antares Vision’s Moorestown, NJ U.S. Headquarters, which features a dedicated showroom and demonstration space.
Antares Vision, the world’s leading provider of serialization-based track & trace solutions for the pharmaceutical industry, will showcase a variety of recent innovations at Pack Expo Booth #N-236, September 25-27 in Las Vegas. Features from the worldwide leader in serialization implementation include a fully serialized warehousing and distribution environment; elements of a program that guarantees DSCSA compliance within 10 weeks; software compatible with a soon-to-be-announced Open-SCS Group serialization standard; and a promising new tool for employee training.
Antares Vision, the world’s leading provider of serialization-based track and trace solutions for the pharmaceutical industry, has been awarded a highly selective european commission grant to develop new technology for the inspection of injectable lyophilized pharma products. The Lyo-Check Project will see development of a fully automated industrial machine for 100% inspection of lyophiles based on innovative vision architecture as well as Headspace Gas Analysis (HGSA) for testing product sterility via container integrity inspection.
Antares Vision introduces Quick Compliance Program
Through a large stock of Ready-to-go modules, Antares Vision Quick Compliance Program enables serialization within 10 weeks. Antares Vision, the world’s leading provider of serialization-based track and trace solutions for the pharmaceutical industry, has introduced the Antares Vision Quick Compliance Program, which draws upon a large lineup of pre-configured modules to enable serialization compliance within 10 weeks from the project start.
- Jo Webb
- Company News
- Created 14 Nov 2019
- Modified 14 Nov 2019
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