Metal fabricator Standex (Salem, NH) has acquired mold and tool provider Piazza Rosa Group (Alpago, Italy), which offers laser surface treatment and finishing services for the automotive and consumer products markets. The acquisition is expected to be accretive to earnings per share of $0.02-0.03 in fiscal year 2018 and $0.06-0.07 in fiscal year 2019, excluding purchase accounting and acquisition costs. Piazza Rosa's senior management team will be continuing with the company. Other terms of the transaction were not disclosed.
Piazza Rosa's capabilities include polishing, laser welding, laser hardening, laser cladding, and repair/maintenance services, explains David Dunbar, Standex's CEO. The combination of these competencies with Standex's texturizing capabilities opens additional opportunities in the broader surface engineering market, he adds.
With the acquisition, Standex will add Piazza Rosa's management and team of approximately 140 employees, Dunbar says.