Schaltbau GmbH acquires the remaining shares in SPII S.p.A.
Press release Schaltbau GmbH
- Remaining 35 % of shares to be acquired from the Foiadelli founding family
- Schaltbau has held a 65 % stake in SPII since 2015
- Dirk Konrad (CEO), Sergio Vaccarini (CSO) and Silvio Zuffetti (COO) to form the new leadership team
- Roberto Foiadelli remains Chairman of the Board
Munich / Saronno, 31 May 2022. Schaltbau GmbH, one of the leading international suppliers of electromechanical components and systems for safety applications, is set to acquire the remaining 35 % stake in SPII S.p.A. based in Saronno, Italy, effective 1 June 2022. The Schaltbau Group has held 65 % of the shares in SPII since 2015. The Italian company was originally founded in 1947 and offers the complete Schaltbau portfolio to customers in Italy. Within the Group, SPII designs and manufactures innovative human-machine interface products and solutions for Rail and e-Mobility as the centre of competence for “Intellicockpit”. With the purchase of the remaining 35 % of the shares, Schaltbau is strengthening its position in the market. At the same time through its ownership of SPII the company intends to step up its leverage of growth opportunities in Italy as well for DC components for use in the new energy / new industry and e-mobility automotive markets. The business will be headed in future by Dirk Konrad (CEO), Sergio Vaccarini (CSO) and Silvio Zuffetti (COO/CTO). Roberto Foiadelli will continue to support the company in his role as Chairman of the Board.
“We are delighted at the trust shown by the Foiadelli family, who are confident that, with the acquisition of the remaining 35 %, Schaltbau will carry on the SPII success story,” commented Dirk Konrad, designated CEO of SPII.
Founded in 1947, the development and production company has been a distributor and cooperating partner of Schaltbau GmbH for 50 years. In 2015 Schaltbau GmbH acquired 65 % of the shares in SPII. Now with the acquisition of the remaining 35 % from the Foiadelli founding family, it will hold 100 %. With a workforce of around 120, in 2021 SPII generated sales of around EUR 28 million. It has been agreed that the purchase price and other terms of the transaction will remain confidential.
Management team changes: Dirk Konrad to succeed Paola Foiadelli
Independently of the transaction, Paola Foiadelli, who has been a member of the Board of Directors for more than 20 years and has headed the company as Managing Director since July 2015, is stepping down as of June 30, 2022 at her own request for personal reasons. “Under Paola Foiadelli’s leadership, SPII has developed into an enterprise recognized far beyond the borders of Italy for its technological expertise and powers of innovation in the field of Intellicockpit solutions,” Dirk Konrad said. “We therefore deeply regret her decision, but naturally we respect her wish.”
Dirk Konrad, who has long been a member of the Board of Directors of SPII in Italy and Managing Director of Schaltbau GmbH in Munich, will become the CEO of SPII effective July 1, 2022. Business and operations management will be the responsibility of Sergio Vaccarini (CSO) and Silvio Zuffetti (COO/CTO).
Board of Directors to be reduced in size – Roberto Foiadelli remains Chairman of the Board
There will be changes, too, on the Board of Directors. Likewise effective July 1, 2022, this body will be reduced in size from five members to three. Attorney Dott. Fabio Moretti is stepping down from the Board, along with Paola Foiadelli. Dirk Konrad – now in his new role as CEO – remains a member of the Board of Directors, of which he has been a member since 2015. Steffen Munz, CFO of Schaltbau Holding AG and managing director of Schaltbau GmbH, has been a member of the Board since February 2022.
Roberto Foiadelli remains Chairman of the Board. “I have known Schaltbau for over fifty years. In all these years I have had the opportunity to get know the company’s history, and today I can state with great satisfaction that Schaltbau has always been a serious and reliable commercial partner that has enabled our SPII to grow in the wake of high-quality technology.
Moreover, in the past seven years, Schaltbau has shown that it has been a fair and responsible co-shareholder. I can therefore safely say that, with Schaltbau as a 100% shareholder, SPII and all its employees can look to the future with confidence and optimism. For this reason, I am pleased to be able to continue as Chairman of the Board of Directors to support SPII along what will be a new growth path.”
Growth opportunities in the field of new energy / new industry and e-mobility automotive
With the acquisition of the remaining shares in SPII, Schaltbau is strengthening its leading market position for cockpit solutions in the rail sector. At the same time, in Italy too Schaltbau sees substantial growth opportunities for DC-power in new and dynamically growing markets. Schaltbau components are increasingly being used in protective and energy management functions in battery-based industrial applications in the field of new energy / new industry as well as e-mobility/automotive – from energy storage in conjunction with the generation of electricity from renewable energy sources through to e-cars and electric charging stations.
“In view of the renaissance in renewable energy sources throughout Europe and the boom in electromobility, we are convinced that in the coming years we will see a whole new level of dynamic growth – both at SPII in Italy and throughout the entire Schaltbau Group,” Dirk Konrad concluded.
About SPII S.p.A.
Established in 1947, SPII serves its customers in pursuing its mission: offering human-centric electromechanical/mechatronic components and systems.
Looking to the future of the planet and the challenges of the green transition, SPII offers the entire portfolio of Schaltbau components and systems for New Energy / New Industry and e-Mobility. The company also provides customised electromechanical and mechatronic solutions for the propulsion of new electric vehicles, based on in-depth engineering knowledge gained over 75 years of its history and strengthened within the Schaltbau Group.
Putting human beings at the heart of a fully automated and robotised world of the future, SPII as the development and worldwide competence centre within the Schaltbau Group designs and manufactures innovative “Intellicockpit” human-machine interface products and solutions for Rail and e-Mobility.
Around 120 employees generated sales of around EUR 28 million in 2021.
With an annual turnover of EUR 153 million (2021) and around 1,000 employees at three German and 12 international locations, Schaltbau GmbH, based in Munich, is one of the world’s leading providers of safety-critical components such as contactors, plugs, plug connectors and switching systems, with a technological focus on DC technology. The switching components are used both in the railway industry, e.g., for signalling, protection and energy distribution, and increasingly for the protection and energy management of battery-based industrial applications in the fields of New Energy/New Industry and e-Mobility Automotives.
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