MBA Stout Italy (“Stout”) is pleased to announce that its client, DF Group (“DF”), has sold 100% of the Group to ATS Automation Tooling Systems Inc. (“ATS”). Stout served as exclusive financial advisor to DF in connection with this transaction.

DF will join ATS’ Comecer business, a leading manufacturer of aseptic production and packaging equipment for the radiopharmaceutical and pharmaceutical markets.

DF was founded in 1987 in Siena, Italy, by Massimo Boldrini, and today it is a supplier of specialized production equipment and customized machines and systems to the pharmaceutical industry, with a growing presence in other markets, including food. The company’s offerings include washing, sterilizing, and packaging and control solutions that meet stringent industry requirements. In addition, DF has the ability to manufacture production lines for vaccines and cytotoxic products as well as machines for plastic bags, and they have a long experience in isolation technology. DF employs 26 employees at its two Italian locations.

ATS is an industry-leading automation solutions provider to many of the world’s most successful companies. ATS uses its extensive knowledge base and global capabilities in custom automation, repeat automation, automation products, and value-added services, including pre-automation and after-sales services, to address the sophisticated manufacturing automation systems and service needs of multi-national customers in markets such as life sciences, food and beverage, transportation, consumer products, and energy. Founded in 1978, ATS employs over 5,000 people at 28 manufacturing facilities and over 50 offices in North America, Europe, Southeast Asia, and China. The company’s shares are traded on the Toronto Stock Exchange under the symbol ATA.

“DF will be complementary to Comecer, adding new products and expertise of more than 20 years in the pharmaceutical sector, which will allow Comecer to enhance its value proposition to customers, particularly in the aseptic fill-finish manufacturing area,” said Massimo Boldrini, CEO of DF. “With this transaction we have guaranteed the continuity of the DF Group and the possibility of expanding our business by leveraging the international commercial network of ATS/Comecer group.”

Mr. Boldrini added, “Thanks to the support of Stout, it was possible to reconcile the entrepreneurial culture of our family-owned company with that of a listed multi-national group and thus arrive at a transaction of mutual satisfaction.”

Simone Bassanini, Managing Director and Co-Head of Stout’s Milan office, acted as financial advisor to DF Group.

“DF Group has a long, impressive history of success in the pharmaceutical industry,” said Bassanini. “We look forward to seeing how Comecer leverages DF’s experience and solutions for future growth.”

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