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Thursday, February 22, 2024

MAIO Legal advises Antares Vision Group on PYGSA stake acquisition

MAIO Legal and Orsingher Ortu have advised Antares Vision Group on its acquisition of 30% of PYGSA Sistemas Y Applicaciones SL. through its subsidiary company FT System

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Antares Vision Group, Italian multinational, leading provider in Track & Trace systems and quality control, which guarantee the transparency of products and supply chains through integrated data management, announces that it has signed a binding agreement to acquire 30% of PYGSA Sistemas Y Applicaciones SL. hrough its subsidiary company FT System, by a capital increase and an outlay of €0.55 million.

Simultaneously, AV Group also signed an agreement with the Spanish company for the exclusive distribution of its solutions in Spain, in all relevant sectors (Life Science, Cosmetics, Food & Beverage) and in Portugal for Food & Beverage only.

PYGSA was founded in 2008 by two partners with over 20 years of extensive experience in product inspection technologies for quality control. Based in Valencia, the Company is currently wholly owned by Guillermo Jose Gimeno, one of the two founders.

The acquisition will be entirely funded by available liquidity. The transaction is expected to be completed by 1Q 2023. In 4Q 2021, AV Group completely refinanced its indebtedness with an average duration of around 6.4 years, at a fixed average cost (post-hedging) of around 2.0% and without significant capital repayments for the next four years.

Antares Vision Group was assisted by Orsingher Ortu – Avvocati Associati and MAIO Legal.

Orsingher Ortu advised with partner Pierfrancesco Giustiniani and associate Maria Rebecca Perugini and the support of the Spanish firm MAIO Legal, with partner Marco Bolognini, counsel Paolo Ronco and associate Pablo Seguì.

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