DBA Progetti S.p.A., a company fully owned by DBA Group S.p.A. announces that it has reached a binding agreement to acquire 51% of SJS Engineering S.r.l. Following the approval of the SJS FY 2021 financial results, and in any case before September 30th 2022, DBA Progetti S.p.A. has committed itself to acquire the remaining 49%. The acquisition is subject to a due diligence and the verification of some suspensive conditions.
“This operation is the natural evolution of the existing collaboration between our companies” – said Raffaele De Bettin, President of DBA Progetti S.p.A. – “Michelangelo Lentini, founder of S.J.S. Engineering S.r.l., will become a Board Member of DBA Progetti S.p.A. and will head our Business Unit Transport & Logistic – Dry and Sea Port; his experience in Ports and Interports will bring a major contribution to our company. This acquisition is coherent with our Industrial Plan and helps accelerate our growth through the integration of the competences that will come with SJS and those already present in our Group, making us the only Italian player capable of offering our Ports’ clients an integrated array of services like ICT, Project Management and Engineering to the support of the Intrastructure Lifecycle Management.”
“We are enthusiastic about this opportunity” – declared Michelangelo Lentini – “and we are excited to become part of a Group that will allow us to compete internationally with the major players of our sector, but above all this opportunity is a move towards the integration of traditional engineering and the Innovation Technology of which DBA Group S.p.A. is a market leader.”
S.J.S. Engineering S.r.l. has registered a turnover of Euro 3 million in 2016 and an EBITDA Adjusted of circa Euro 800.000. Full Year 2017 financials are currently being approved, but the forecast is in line with FY 2016 results.
Some of SJS clients are major international players such as TO DELTA, HPH, MSC and Evergreen. SJS Engineering S.r.l. is currently working on the design, assistance to the procurement and supervision of the construction of the Dammam Port in Saudi Arabia, as well as in various other projects for the main Italian Port Authorities.
DBA Progetti S.p.A. and S.J.S. Engineering S.r.l. can count on combined revenues of Euro 23 million, 33 clients that are Port Authorities, are present in 10 countries and will have 510 qualified professionals, as well as a track record of 30 years of experience.