FAAC, Italian multinational in the automation and access control sector, through its Brazilian subsidiary Indústrias Rossi Eletromecânica Ltda, announces the signing of a binding agreement for the acquisition of a majority stake in Garen Automação SA. This acquisition aims to accelerate FAAC’s development trajectory and expand its product know-how for the Brazilian and Latin American markets.
FAAC is an international group present on five continents and present in 31 countries, with more than 50 subsidiaries and eight main production units. The group’s activities are organized into two main divisions: Access Solutions and Parking.
“I am pleased to announce the acquisition of the majority stake in Garen Automação SA, a company recognized for its market leadership in gate automation and access control solutions,” says Sergio Foresta, Country Director of FAAC Technologies.
“With this move, Indústrias Rossi Eletromecânica, Wolpac Group and Garen Automação begin to operate in a strategic partnership, combining experience, technology and production capacity to strengthen FAAC Group’s leadership in the sector and generate new opportunities for growth and innovation,” adds Foresta.
José Márcio Ramirez, owner of Garen Automação SA, adds: “In recent years we have experienced a period of great growth together. Garen has established itself as one of the largest automation industries in Brazil, a benchmark in our segment. This result is the result of the commitment, dedication and commitment of each of our employees, to whom I express my sincere gratitude.
“Given the economic challenges projected for the years to come, and in order to maintain the level of investments and the pace of expansion of the Company, I have decided to initiate a strategic move towards the entry of a new partner. Garen operations will continue as normal. We will begin a structured process of integration and capturing synergies with other FAAC Group companies, carried out with planning, transparency and accountability. This move will be gradual and will not result in significant changes to our operations, brands or teams. stage and development of this new phase”, he adds Ramírez.
The transaction is subject to customary closing conditions and required approvals. The transaction should be finalized by the end of this year.
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