Cimbria acquires Italian enterprise SEA
May 24, 2012
by World Grain Staff
THISTED, DENMARK — Cimbria announced in May that it has reached an agreement with the group of owners behind Italian company SEA to acquire 100% percent of the shares in the company.
SEA is a leader in the development and manufacture of sorting equipment for sorting grain, seeds and other industrial products by means of color or resonance. SEA primarily sells its equipment in Europe.
With the acquisition of SEA, Cimbria’s range of mechanical sorting equipment will be supplemented by optical color sorting and other electronic solutions, thus completing Cimbria’s product line-up. Such an acquisition is very much in line with Cimbria’s strategy aimed at strengthening the company’s product and market position via organic and acquisitive initiatives. It is the company’s first acquisition since Axcel became the majority shareholder at Cimbria in August 2011.
In 2011, SEA had a turnover of approximately DKK 70 million and a profit ratio of approximately 20%. The company expects to see growth in both sales and earnings this year. SEA has around 35 employees at its factory in Imola in northern Italy. SEA’s technology has applications in several fields, including the food industry, recycling and seed corn. SEA’s hitherto owners will continue to look after the day-to-day management of the company.
“With more than 40 years’ experience in the market, SEA is recognized today for its excellent quality in the field of optical sorting and other electronic sorting technologies, and the company represents a good fit in relation to Cimbria’s aim to supply high-quality products and full-line solutions within seed corn plants and other industrial products,” said Karsten Larsen, managing director of Cimbria. “At the same time, we’re convinced that in years to come SEA’s products will meet a growing demand driven by stricter requirements in terms of quality and documentation within precision sorting.”
“I’m convinced that we can develop and boost SEA’s activities significantly by becoming a member of the Cimbria group, for the benefit of both customers and suppliers,” said Antonio Uzzo, managing director of SEA and the company’s founder. “We now have the potential to grow and attract new customers by means of the strong market position of the combined company.”