October 11, 2024 15:30

The Council of Ministers of the Italian Republic has authorized the sale of Comau – an industrial automation company from the Stellantis group – to the financial firm One Equity Partners, through the new company OEP Heron BidCo.

The government, considering Comau a strategic asset for the country, had the so-called "golden power" (special veto powers) to block or modify the deal. In an official statement, the Italian authorities noted that the parties involved have committed to ensuring a positive impact on the workforce in the medium to long term.
The conditions outlined by the government are intended to safeguard Comau's strategic value, particularly ensuring investment in research and development, maintaining production facilities in Italy, and keeping the company's R&D management and coordination functions within the country. Additionally, the Italian technological know-how must be preserved by protecting patents and other intellectual property rights. The Ministry of Enterprises and Made in Italy (MIMIT) will monitor the compliance with these conditions.

The deal, initially announced in July this year, involves the sale of Comau’s entire capital, currently owned by Stellantis, to OEP Heron BidCo. Stellantis will acquire 49.9% of OEP Heron BidCo, while the remaining 50.1% will be held by OEP Heron MidCo, indirectly controlled by the US private equity firm One Equity Partners.

Based in Turin, Northern Italy, Comau has nearly half a century of experience in industrial automation, specializing in the automotive and plastic industries. The company operates 7 innovation centers, 12 production facilities in 12 countries, and employs 3,700 people.

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