Interpump acquires control of Italian pump manufacturer Galtech

Galtech, which is headquartered in Reggio Emilia, specialises in the production and sale of pumps and gear motors, hydraulic distributors and accessories and components. Galtech had net sales of €13.1 million and an EBITDA of €0.5 million in 2010. At 31 December 2010 Galtech had net debt of €1.4 million.

Half of the €3.3 million purchase price was paid in cash and the other half in Interpump Group SpA shares.

The sellers have the right to sell the remaining 47% between the date on which the 2014 financial statements are approved and the date on which the 2025 financial statements are approved.