Eidos Partners announces the closing of the sale of E.A.M.E. to Askoll Holding. Consideration for the sale was not disclosed by the parties.
E.A.M.E. (www.emersonappliance.eu), headquartered in Northern Italy, is a leading European designer, manufacturer and supplier of electric motors, draining pumps and fans to the world’s largest manufacturers of home appliances primarily for laundry, dishwashing and cooking appliances. Operating five production sites in Italy, Slovakia, Romania and China, E.A.M.E. employs approximately 2,800 people. In 2007, E.A.M.E. generated sales in excess of €330m.
Askoll Holding (www.askoll.com), established in 1978 in Vicenza (Italy), is a leading manufacturer of electrical synchronous motors found in household appliances such as washing machines and dishwashers. Askoll today is an international group with plants in 10 locations in Italy, Brazil, Mexico and a sales office in USA. In 2007, sales exceeded €130m spread over 20 countries. Askoll had 560 employees.
Thanks to this acquisition, Askoll becomes a leading supplier globally of motors and components for the white goods industry. The enlarged group has sales of around €450m and over 3,000 employees.