MATHI, Italy—Megadyne S.p.A. has entered into a binding agreement to acquire the assets of Sampla Belting s.r.l. from the Depaoli family.
Astorg Partners, an equity firm and current majority shareholder of Megadyne, along with the Tadolini, Cohenca and Cukurel families and Fondo Italiano d'Investimento, which hold a minority interest in the belt maker, made the announcement July 1. Financial details were not disclosed.
The acquisition represents an opportunity to create a new and formidable range of products that combined with Megadyne's international distribution network will further accelerate Megadyne's growth, the company said in a press release.
Mathi-headquartered Megadyne is a global leader in the development, manufacturer and distribution of rubber and polyurethane power transmission belts, matched components, complete belt systems and other complementary products.
Sampla manufactures customized conveyor belts with a product range running from the standard belts to ones designed for unique applications. Based in Italy with manufacturing plants in the U.S. and Italy, it has a worldwide base fort conveyor belts used in a diverse range of applications in light industries, such as food processing, logistics and textiles.
It will retain its name and continue to operate as a separate business unit by members of the Depaoli family, who have managed the business for over 30 years.