The transaction was completed at the beginning of the current month, being reported on the New York Stock Exchange (NYSE), where the group is listed (SXI).
Founded in 1995 and currently employing over 5,400 people in the U.S. and numerous other countries including Australia, Brazil, Canada, China, Japan, Europe, Mexico, India, Turkey, South Africa, South Korea, Russia, Malaysia and Singapore, Standex group holds 12 operating units, organized into five reporting segments: Food Service Equipment Group, Engraving Group, Engineering Technologies Group, Electronics Group and Hydraulics Group. The Engraving Group took over the Romanian subsidiary of Piazza Rossa Group.
Piazza Rosa Group, founded in 1983 near Venice, Italy, has market leading capabilities in polishing, laser welding, laser hardening, laser cladding and repair / maintenance services. Piazza Rossa Group operated three facilities: one in Italy, one in Romania and another one in Mexico.
Maravela|Asociații’s team was coordinated by Gelu Maravela, Managing Partner, Felix Tapai, Tax Partner and the specialist Stelios Savva, Of counsel. Complex assistance consisted of all tax related aspects of the transaction, including tax related due diligence and U.S. GAAP reporting of all Romanian jurisdiction tax records. Other firms advising the buyer were Sinescu & Nazat, Mondini & Resconi (Italy) and Lazzari Law Firm (Italy).
Further information about Standex is available on the group’s official website at http://www.standex.com/ and details about Maravela|Asociații’s team, practice areas covered and services provided is accessible at http://www.maravela.ro