SeSa Group acquires Trias Mikroelektronik GMBH, company based in Germany operating in electronic design automation software solution sector

Empoli (FI), October 10, 2023
Sesa (“SESA” – SES.MI), reference player in technological innovation and digital services for the business segment, with about Eu 3 billion consolidated revenues and 5,000 employees, has acquired through Var Group S.p.A. (Sesa wholly owned subsidiary) the 100% stake of Trias Mikroelektronik Gmbh (“Trias”), strengthening its set of skills and software solutions for engineering sector in the DACH Area.

Trias, based in Krefeld (Germany) and Iasi (Romania) and operational activities in Austria and Switzerland, is focused on Electronic Design Automation (EDA) software solutions, verification and validation of programmable logic devices and integrated circuit, as well as wiring harness systems (cable harness) and onboard networks, with an engineering intensive enterprise customer set, operating in electronics, aerospace, automotive, automation, robotics and defense systems sectors.

Trias, with expected revenues in Year 2023 of about Eu 3 million and an Ebitda Margin of over 10%, is a partner of Siemens Electronic Design Automation (“EDA”) and Siemens Digital Industries Software, with a team of about 15 skilled resources, based in Germany and Romania.
The corporate partnership has been closed on evaluation criteria consistent with those usually adopted by Sesa Group, in application of an EV/Ebitda evaluation criteria equal to about 5x.

Thanks to the business combination, Sesa Group expands its skills and digital solutions in engineering sector beyond national borders, in a leading market such as the German one, characterized by manufacturing companies oriented towards Digital Transformation, strengthening its competitive positioning in the DACH Area with over 2,000 skilled human resources.

Var Group, through the aggregation of Trias, further consolidates its presence in the Digital Engineering, established in October 2017 with the purchase of Tech Value S.p.A., focused on offering digital and Product Lifecycle Management (“PLM”) solutions for manufacturing companies, and developed thanks to the following acquisitions of PBU CAD-Systeme GmbH in February 2019 and Cadlog Group Srl in May 2021 (including the subsidiary Cadlog GmbH and the company Cimtec GmbH).
Var4Industries, Strategic Business Unit of Var Group focused on Digital Engineering, will generate revenues of approximately Eu 60 million as of April 30, 2024, of which 40% abroad, mainly in the DACH Area, with about 200 skilled human resources.

The corporate partnership integrates the wider Sesa Group strategy of investment in the industrial development of its vertical digital skills in strategic sectors for the European economy, to support the digital transformation of Enterprises and Organizations.

Sesa Group continues to boost its development path in human resources and digital skills in strategic development areas, driven by bolt-on industrial M&A and great organic growth capability, with the following CAGR in the last four-Year period (April 30, 2020 – April 30, 2023) at consolidated level: Revenues +17.0%, Ebitda +29.6%, EAT Adjusted 33.6%.

“Thanks to the acquisition of Trias, we strengthen our presence alongside the European manufacturing districts, supporting the digital transformation of engineering intensive manufacturing companies. We strengthen our European digital engineering centre supporting the industrial design, thanks to the most innovative technologies. With the aggregation of Trias, in the Fiscal Year ending on April 30, 2024, we will develop a perimeter of 200 human resources and Eu 60 million revenues in the main European countries, with the aim of further growth and consolidation, enabling technological innovation and digital transformation of manufacturing Industry” stated Francesca Moriani, CEO of Var Group S.p.A. and Filippo D’Agata, CEO
of Var4Industries.

“We are pleased to welcome Trias human resources to Sesa Group, with the aim of enhancing their skills and further enriching our offering in a relevant manufacturing area as Germany, expanding its customer base and human capital. We will continue to boost our development path in human resources and digital skills in strategic development areas, driven by bolt-on industrial M&A and great organic growth capability, strengthening the Group internationalization path and with the aim of long-term sustainable value generation for our stakeholders”, stated Alessandro Fabbroni, CEO of Sesa.