CEME, a company owned by independently managed subsidiaries of Investindustrial VI (“Investindustrial”) and a global leading manufacturer of highly engineered, precision fluid control solutions, has acquired ODE. ODE is an Italian company active in the design and manufacturing of solenoid valves and pumps applied in a variety of applications including coffee machines, beverage systems and industrial applications.
Established in 1960 and headquartered in Italy (Lombardy), ODE has seen a steady growth of its business, further accelerated by the acquisition of solenoid valves maker ACL in 2015. Today, the company has a turnover of more than €80 million with approximately 750 employees.
The acquisition by CEME allows the group to further expand its commercial and industrial leadership after a record 2020 with a double-digit revenue growth and significant global momentum. ODE’s product portfolio is highly complementary with CEME‘s product offer, both for its exposure to the professional coffee machines and for its strong presence in a number of highly attractive niches such as automation, beverage, vending machines, water management and railway transport. Pro forma the ODE acquisition, the CEME group will have revenues of more than €250 million with five manufacturing facilities (3 in Italy and 2 in China), and approximately 1,600 employees.
Roberto Zecchi, CEO of CEME, commented: “This acquisition represents a fundamental step for CEME, because it allows us to add to our offer a range of products totally complementary to those already in our portfolio. Thanks to Investindustrial’s strategic and financial support, we have embarked on a path of growth along internal and external lines that has led us to strengthen and consolidate our positioning in the segments and markets in which we operate.”
