FT System (controlled by Arol) specializes in inspection and control systems for bottling and packaging. The purchase agreement also has been accompanied by an industrial partnership agreement with Arol S.p.A.

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 steered 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).