Brembo acquires SBS Friction
Brembo has signed an agreement for the acquisition of a 100 per cent stake in SBS Friction A/S, a Danish company which develops and manufactures sintered and organic material brake pads for motorcycles. The transaction entails a consideration of 224 million Danish Krone, equal to approximately £27 million. The company will pay this using available cash. Enterprise value is 300 million Danish Krone (£36 million). Brembo expects the agreement’s finalisation in the first quarter of 2021.
“We are particularly glad to welcome SBS Friction in our Group,” stated Alberto Bombassei, chairman of Brembo. “Despite the highly complex market context, Brembo has maintained its natural propensity to invest in innovation. This acquisition is an important step in our strategy: it enables us to integrate even more specific competences in a key sector, to further strengthen our range of ‘made-in-Brembo’ solutions for the benefit of our customers.”
“Brembo has long been a trustworthy partner that knows the value of SBS Friction’s technological know-how and its strong niche position,” added Peter Eriksen Jensen, Chairman of SBS Group. “We are pleased that SBS Friction will get a strong, long-term, industrial owner who will support the company’s continued development. The transaction is a good solution for SBS Group, SBS Friction, the employees, and the city of Svendborg.”
Although best known for its braking solutions, Brembo S.p.A. became directly involved in the tyre industry earlier this year with its acquisition of a 2.43 per cent interest in Pirelli.