NETWORK OF GROUP PRESENCE IN CYLINDER SECTOR EXTENDS TO AS MAJOR A COUNTRY AS BRAZIL

https://www.interpumpgroup.it/sites/default/files/documents/ip_hidrover_acquisition_24_october_2024_italian_english_version.pdf

Sant’Ilario d’Enza (RE), 24 October 2024 – Interpump Group announces that it has signed a
binding agreement for the acquisition of 59% of the share capital, through its subsidiary IPH
Brazil, of Hidrover Equipmentos Hidraulicos Ltda, operating in the hydraulic cylinders sector.
Founded in 1974, owned by the management since 2017 and with over 100 employees, the
Company specializes in the production of hydraulic cylinders, covering the entire production
process with construction and agriculture as its reference markets. Hidrover estimates that it will
end 2024 with a turnover of approximately €23 million, an EBITDA margin of around 26%, and a
cash flow of approximately €3 million.2
The total consideration for the transaction was approximately €17.5 million and a decision on
the “put and call” mechanisms was made whereby Interpump Group can acquire the remaining
proportion.
The Group’s entry into the cylinder sector dates back to 2008 with the acquisitions of Contarini,
Modenflex, Cover, Panni Oleodinamica and HS Penta, all operating, albeit with different
specializations, in the field of hydraulic cylinders and related components; in 2019, a further
major step in development was taken with the acquisition of the Canadian company Hydra Dyne
Tech.
Dr. Fulvio Montipò, Executive Chairman of Interpump Group, noted that “there are several
reasons I am satisfied with the completion of this transaction: a product in total synergy with
the Group’s portfolio, a motivated and competent management team and the strengthening of
our presence in as major a country as Brazil.”