- One Equity Partners (OEP) will become majority shareholder of
Comau; Stellantis will remain an active minority shareholder
- The spinoff of Comau is part of the strategic agreement signed
when Stellantis N.V. was formed in January 2021
- Under the new ownership, Comau will have access to additional
funds as appropriate to enhance and expand its Italian roots, and
to grow its competencies in diversified sectors
- Executive team, including Executive Chairman and CEO, will
remain intact after closing
Stellantis N.V., one of the world’s largest automakers and
mobility providers, and One Equity Partners (“OEP”), a middle
market private equity firm, today announced that OEP has signed a
binding agreement to make a majority investment in Comau S.p.A.
(“Comau”), a global technology company specializing in industrial
automation and advanced robotics. The spinoff of Comau is part of
the strategic agreement set during the merger between former FCA
and Groupe PSA in January 2021 that formed Stellantis N.V.
Financial terms of the private transaction were not disclosed.
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“Comau has positioned itself as a recognized player in the field
of automation solutions over the past 50 years,” said Stellantis
CEO Carlos Tavares. “This planned transaction is designed to help
Comau achieve autonomy and further strengthen its success in
support of all its stakeholders, specifically for their employees
and customers. It also gives Stellantis the ability to focus on
core business activities in Europe.”
"Comau is a leading-edge industrial automation company with
first-rate robotics technology that has tremendous growth
potential,” said Ante Kusurin, Partner, One Equity Partners. “We
have deep expertise in executing complex corporate carve-out
transactions, and we believe we have the resources to help position
Comau as a successful standalone business.”
“In its over 50 years of history, Comau has consistently
demonstrated the ability to transform its business, technology and
approach to innovation,” said Comau CEO Pietro Gorlier. “This
operation is consistent with Comau’s strategic plan, which aims to
expand its business beyond the automotive sector, targeting the
global demand growth for industrial automation. This will also
consolidate the company’s position as a strong international leader
in its sector, maintaining solid Italian roots.”
Executive Chairman Alessandro Nasi and CEO Pietro Gorlier will
retain their responsibilities, as will the Executive Team.
Comau has a local presence in all regions and a global network
that is strengthened by its business and leadership continuity. As
an autonomous company, Comau can independently identify and pursue
new opportunities and investments.
The transaction is expected to close by the end of 2024 and is
subject to regulatory approvals and other customary closing
conditions.
About Comau
Comau, a Stellantis company, is a worldwide leader in delivering
sustainable advanced automation solutions. With 50 years of
experience and a global presence, Comau is helping companies of all
sizes in almost any industry leverage the benefits of automation.
Backed by a continuous commitment to designing and developing
innovative and easy to use technologies, its portfolio includes
products and systems for vehicle manufacturing, with a strong
presence in e-Mobility, as well as advanced robotics and digital
solutions to address rapidly growing markets in industrial sectors.
The company’s offering also extends to project management and
consultancy. Through the training activities organized by its
Academy, Comau is committed to advancing the technical and
managerial knowledge necessary to face the challenges related to
automation and leverage the opportunities of a constantly changing
marketplace. Headquartered in Turin, Italy, Comau has an
international network of 7 innovation centers and 12 manufacturing
plants that span 12 countries and employ 3,700 people. Together
with its wide network of distributors and partners, the company is
able to respond quickly to the needs of its customers, no matter
where they are located throughout the world. www.comau.com
About Stellantis
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext
Paris: STLAP) is one of the world’s leading automakers aiming to
provide clean, safe and affordable freedom of mobility to all. It’s
best known for its unique portfolio of iconic and innovative brands
including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS
Automobiles, FIAT, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram,
Vauxhall, Free2move and Leasys. Stellantis is executing its Dare
Forward 2030, a bold strategic plan that paves the way to achieve
the ambitious target of becoming a carbon net zero mobility tech
company by 2038, with single-digit percentage compensation of the
remaining emissions, while creating added value for all
stakeholders. For more information, visit www.stellantis.com.
About One Equity Partners
One Equity Partners (“OEP”) is a middle market private equity
firm focused on the industrial, healthcare, and technology sectors
in North America and Europe. The firm seeks to build market-leading
companies by identifying and executing transformative business
combinations. OEP is a trusted partner with a differentiated
investment process, a broad and senior team, and an established
track record generating long-term value for its partners. Since
2001, the firm has completed more than 400 transactions worldwide.
OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has
offices in New York, Chicago, Frankfurt and Amsterdam. For more
information, please visit www.oneequity.com.
Stellantis Forward Looking Statements
This communication contains forward-looking statements. In
particular, statements regarding future events and anticipated
results of operations, business strategies, the anticipated
benefits of the proposed transaction, future financial and
operating results, the anticipated closing date for the proposed
transaction and other anticipated aspects of our operations or
operating results are forward-looking statements. These statements
may include terms such as “may”, “will”, “expect”, “could”,
“should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”,
“on track”, “design”, “target”, “objective”, “goal”, “forecast”,
“projection”, “outlook”, “prospects”, “plan”, or similar terms.
Forward-looking statements are not guarantees of future
performance. Rather, they are based on Stellantis’ current state of
knowledge, future expectations and projections about future events
and are by their nature, subject to inherent risks and
uncertainties. They relate to events and depend on circumstances
that may or may not occur or exist in the future and, as such,
undue reliance should not be placed on them.
Actual results may differ materially from those expressed in
forward-looking statements as a result of a variety of factors,
including: the ability of Stellantis to launch new products
successfully and to maintain vehicle shipment volumes; changes in
the global financial markets, general economic environment and
changes in demand for automotive products, which is subject to
cyclicality; Stellantis’ ability to successfully manage the
industry-wide transition from internal combustion engines to full
electrification; Stellantis’ ability to offer innovative,
attractive products and to develop, manufacture and sell vehicles
with advanced features including enhanced electrification,
connectivity and autonomous-driving characteristics; Stellantis’
ability to produce or procure electric batteries with competitive
performance, cost and at required volumes; Stellantis’ ability to
successfully launch new businesses and integrate acquisitions; a
significant malfunction, disruption or security breach compromising
information technology systems or the electronic control systems
contained in Stellantis’ vehicles; exchange rate fluctuations,
interest rate changes, credit risk and other market risks;
increases in costs, disruptions of supply or shortages of raw
materials, parts, components and systems used in Stellantis’
vehicles; changes in local economic and political conditions;
changes in trade policy, the imposition of global and regional
tariffs or tariffs targeted to the automotive industry, the
enactment of tax reforms or other changes in tax laws and
regulations; the level of governmental economic incentives
available to support the adoption of battery electric vehicles; the
impact of increasingly stringent regulations regarding fuel
efficiency requirements and reduced greenhouse gas and tailpipe
emissions; various types of claims, lawsuits, governmental
investigations and other contingencies, including product liability
and warranty claims and environmental claims, investigations and
lawsuits; material operating expenditures in relation to compliance
with environmental, health and safety regulations; the level of
competition in the automotive industry, which may increase due to
consolidation and new entrants; Stellantis’ ability to attract and
retain experienced management and employees; exposure to shortfalls
in the funding of Stellantis’ defined benefit pension plans;
Stellantis’ ability to provide or arrange for access to adequate
financing for dealers and retail customers and associated risks
related to the operations of financial services companies;
Stellantis’ ability to access funding to execute its business plan;
Stellantis’ ability to realize anticipated benefits from joint
venture arrangements; disruptions arising from political, social
and economic instability; risks associated with Stellantis’
relationships with employees, dealers and suppliers; Stellantis’
ability to maintain effective internal controls over financial
reporting; developments in labor and industrial relations and
developments in applicable labor laws; earthquakes or other
disasters; risks and other items described in Stellantis’ Annual
Report on Form 20-F for the year ended December 31, 2023 and
Current Reports on Form 6-K and amendments thereto filed with the
SEC; and other risks and uncertainties.
Any forward-looking statements contained in this communication
speak only as of the date of this document and Stellantis disclaims
any obligation to update or revise publicly forward-looking
statements. Further information concerning Stellantis and its
businesses, including factors that could materially affect
Stellantis’ financial results, is included in Stellantis’ reports
and filings with the U.S. Securities and Exchange Commission and
AFM.
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Comau Giuseppe Costabile Corporate Communication
giuseppe.costabile@comau.com +39 338 7130885
Stellantis Fernão Silveira Global Communications
fernao.silveira@stellantis.com +31 6 43 25 43 41
Claudio D’Amico Italy Communications
claudio.damico@stellantis.com +39 334 7107828
One Equity Partners Thomas Faust Stanton 646-502-3513
TFaust@StantonPRM.com
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