CNH is buying an initial 90% of Sampierana, with the intention of obtaining 100% control of the company over four years.
The purchase price is reported to be € 101.8m.
Sampierana is a privately-owned Italian company that makes undercarriages and spare parts under its own brand and Eurocomach mini and midi excavators. Until now it was owned by brothers Moreno and Cesare Para, whose father Aleardo Para started a tractor repair workshop in 1950. Production of Sampierana crawler undercarriages began in 1984. Eurocomach was founded in 1993 after Sampierana took over an Italian backhoe loader producer.
CNH is also Italian, controlled by the Agnelli family empire, that runs from Fiat to Juventus. CNH said that Sampierana’s high customisation capacity and electric power prototypes are an ideal fit with CNH Industrial’s customer-centric and sustainable approach, and
The plan is that Case Construction Equipment will integrate Eurocomach excavators and Sampierana undercarriages and spare parts into its own product portfolio alongside those of its existing third-party OEM partners.
Stefano Pampalone, construction president at CNH Industrial, said: “This agreement is an important step in our strategy for the future growth of our brand. It will enable us to better serve our customers with a full line of mini and midi excavators.”
Cesare and Moreno Para, who have been working for the family business for getting on 50 years now, said: “Together with CNH Industrial, our company will continue to grow and will enjoy all the advantages that a large industrial shareholder can provide. The link with the territory has always been a cornerstone of our business and for this reason the investments in our plants in San Piero in Bagno, Modena and Cesena will continue; in fact, the agreement provides that production lines will be expanded as early as 2022 and CNH will strengthen all our sectors. At the same time, we would like to emphasise that our brands and commercial network will be preserved. Together with our families we will continue to support the new management, guaranteeing the path we have built together in over 30 years of work.”
Earlier this year Eurocomach signed a UK dealership agreement with Robustrack. Robustrack director Roberta Heslop said: "As UK official Eurocomach dealers we are very excited to potentially have access to more machines and a wider range of excavators due to the investments CNH announced with the acquisition."