(RTTNews) - Crane NXT Co.(CXT), an industrial technology security solution provider, on Friday announced that it has signed an agreement to acquire approximately 30% stake in Antares Vision S.p.A. (AV.MI) from Regolo S.p.A. and Sargas S.r.l L at 5 euros per share price, for a total consideration of around 120 million euros.
The company intents to buy the Italian inspection system producer in full, and take it private.
The total enterprise value for 100% of the equity capital and current net debt of Antares Vision is around 445 million euros.
Following the 30% stake deal, Crane NXT will make a mandatory tender offer in Italy for the remaining publicly traded shares of Antares Vision at the same 5 euros per share price.
Post tender offer completion, Crane NXT will step into the delisting process of Antares Vision and acquire the remaining Regolo-owned stake.
The overall transaction is expected to close in the first half of 2026 after regulatory approvals. On completion, Antares Vision will become a subsidiary of Crane NXT.
Crane NXT expects the acquisition to be accretive to adjusted earnings per share in the first full year and to achieve double-digit ROIC in five years.
Antares Vision generated approximately 200 million euros in revenue in the fiscal year 2024, with an adjusted EBITDA margin of approximately 15%.
Crane NXT said the transaction advances its expansion portfolio in growing end markets, including Life Sciences and Food & Beverage.
In the pre-market, Crane NXT's shares were trading 3.31% higher at $63.98 on the NYSE.
In the Milan market, Antares Vision shares were trading 4.79% higher at 5.03 euros.
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