FT System specialises in inspection and control systems for bottling and packaging. The purchase agreement also has been accompanied by an industrial partnership agreement with Arol.
Antares Vision has announced the acquisition of FT System, an Italian company that provides control and inspection solutions to the beverage industry. The agreement was signed between Antares Vision and the shareholders of FT System; Arol; Fabio Forestelli and Ferdinando Tuberti, holders of quotas equal, respectively, to 80%, 10% and 10% of the capital of FT System.
The Equity Value of FT System is €67.7 million. With the acquisition, Antares Vision has taken control of FT System and, indirectly, its controlled companies in France and the United States as well as related business carried out by divisions operating in Mexico, Brazil, UK, Spain, China and India.
Founded in 1998, FT System is a solutions provider of bottling control and inspection, mainly in the beverage industry. It covers all stages of processing: container control, filling, capping, leak and pressure verification, labelling, coding, weight and palletising.
The customer portfolio, with over two thousand companies in 60 countries and approximately 5,200 machines installed, includes large multinationals producing water, soft drinks, liquor, beer, wines, and OEMs (producers and integrators of bottling lines). The company has over 140 employees.
FT System has driven its growth by investing in the development of innovative and patented technologies such as the ROBO QCS, a non-destructive and fully automated quality control station, integrated into the production line.
Between 1st January – 31st December 2019, FT System is expected to report revenues of over €26 million (of which approximately €18 million originated abroad), an EBITDA of €6 million and an EBIT of €5.7 million. At the closing date, FT System recorded a positive net financial position (i.e. cash) of approximately €8 million.
The acquisition of FT System is part of an industry diversification strategy pursued by Antares Vision, and reflects the Group’s mission to protect products throughout their entire life cycles.
In a statement, FT System will allow Antares Vision
- to expand its product offerings in the beverage industry, thanks to the know-how and expertise held by the company
- to further extend its geographical presence, acquiring activities in new countries (Mexico, China, UK and Spain, as well as the USA, France, Brazil and India where Antares Vision is already present)
- to increase market penetration, benefiting from the company’s consolidated customer base and sales force, and iv) to develop cross selling opportunities that integrate Track & Trace solutions and Smart Data Management.
During Antares Vision’s acquisition, FT System and Arol have also signed an agreement aimed at establishing an industrial partnership, with the primary objective of building a competitive advantage in the market through a comprehensive portfolio: control and inspection to meet quality standards, product traceability along the supply chain to ensure transparency, and Smart Data Management to maximise efficiency.
Forestelli and Tuberti will continue to work as FT System managing directors, ensuring the continuity of business management and accompanying the development project underlying the agreement with Antares Vision.
Emidio Zorzella, CEO of Antares Vision, commented, “The agreement with FT System will allow us to launch a development project in the beverage industry that is unique in terms of the breadth and the quality of the offer and its geographical extension. Our strategy to diversify the reference industries is also based on identifying partners such as FT System, that combines solid know-how, experience and technological innovation capacity”.
Forestelli, CEO of FT System, concluded, “We found in Antares Vision the ideal qualities to boost our growth. I am sure that together we will be able to enhance our potential and build a solid competitive advantage in the beverage industry in Italy and abroad “.