SAES Getters Navigates Tender Offer, Discloses Extraordinary Costs, and Acquires FMB Berlin

SAES Getters appoints financial and legal advisors for the tender offer launched by S.G.G. Holding S.p.A. The company expects to incur extraordinary costs in 2024, including costs related to the divestment of its Nitinol business and delisting from the stock exchange.

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SAES Getters Navigates Tender Offer, Discloses Extraordinary Costs, and Acquires FMB Berlin

SAES Getters Navigates Tender Offer, Discloses Extraordinary Costs, and Acquires FMB Berlin

SAES Getters S.p.A., an Italian company, has appointed financial and legal advisors in relation to thetender offerlaunched by S.G.G. Holding S.p.A. The company's Board of Directors has taken this step to ensure a smooth and successful process as SAES Getters moves forward with the tender offer and keeps shareholders informed of significant developments.

Why this matters: The tender offer and subsequent extraordinary costs will have a significant impact on SAES Getters' financial performance and shareholders' interests, making it essential for the company to successfully steer this process. This development also highlights the importance of transparency and proactive management in the business world, particularly during times of significant change. This development also highlights the importance of transparency and proactive management in the business world, particularly during times of significant change.

In addition to the tender offer developments, SAES Getters has disclosed that it expects to incur extraordinary items in fiscal year 2024, including costs related to the divestment of its Nitinol business and delisting from the stock exchange. "These costs are expected to have a significant impact on the company's financial performance in 2024," according to the company's statement. The extraordinary costs are expected to be one-time expenses, and SAES Getters is well-positioned to absorb these costs given its strong financial position.

Despite the anticipated extraordinary costs, SAES Getters has taken a significant step to strengthen its position in the advanced scientific research market. The company has completed the acquisition of FMB Feinwerk- und Meßtechnik GmbH, a German company specializing in scientific components and instrumentation for synchrotrons and particle accelerators. The acquisition aligns with SAES Getters' strategy to expand its presence in the advanced scientific research market and enhance its offerings as a leading provider of high-tech solutions for scientific research institutions worldwide.

The acquisition of FMB Berlin was completed at a purchase price of EUR 8 million, paid in cash using SAES' own funds. In fiscal year 2023, FMB Berlin generated revenues of approximately EUR 13.4 million with an Ebitda margin of 13%. As of December 31, 2023, the company's equity stood at EUR 4.8 million, and it employs approximately 60 people. The acquisition is expected to contribute positively to SAES Getters' revenue and profitability in the coming years.

Investors have responded positively to SAES Getters' recent developments, with the company's shares trading in the green, up 0.8% at EUR 26.50 per share. This indicates market confidence in the company's strategic moves as it proceeds through the tender offer process, integrates FMB Berlin, and focuses on its long-term growth strategy.

The appointment of financial and legal advisors for the tender offer and the disclosure of extraordinary costs in 2024 demonstrate SAES Getters' commitment to transparency and proactive management of its business. The company continues to execute its growth strategy, remaining focused on ensuring long-term success for everyone involved.

Key Takeaways

  • SAES Getters appoints advisors for tender offer by S.G.G. Holding S.p.A.
  • Extraordinary costs expected in 2024, including divestment and delisting costs.
  • Acquisition of FMB Berlin strengthens position in advanced scientific research.
  • FMB Berlin acquisition expected to contribute positively to revenue and profitability.
  • Investors respond positively, with shares up 0.8% to EUR 26.50 per share.