Siemens sells traffic engineering subsidiary Yunex to Italian holding company for just under one billion euros
The holding company Atlantia of the Benetton family of entrepreneurs prevails in the bidding process. The infrastructure investor has strategic interest.
Axel Höpner, Christian Wermke
January 18, 2022 - 9:35 a.m
Yunex offers solutions for intelligent road traffic control.Photo: dpa
Munich, Rome. Siemens sells its traffic engineering subsidiary Yunex Traffic to the Italian infrastructure holding company for just under one billion euros Atlantia. „ We continuously sharpen and optimize our portfolio to Siemens to further strengthen as a focused technology company “, said Siemens CEO Roland Busch on Monday in Munich.
A whole range of financial investors and strategists were interested in the spin-off of Siemens Mobility. The Handelsblatt had already reported on the approaching award for Atlantia. The holding company pays 950 million euros. The transaction is expected to close in September.
The best owner for Yunex Traffic was found, Busch said: „ The competence, long-term orientation and the great commitment to growth and innovation of Atlantia are in the best interest of everyone involved. “ Yunex offers solutions for intelligent road traffic control, from toll systems to traffic light controls. Siemens was no longer part of the core business of its rail technology division.
Yunex's sales were recently more than 600 million euros, and order intake has grown by an average of eight percent in recent years. The company is now operating profitably.
The buyer Atlantia is from the entrepreneurial family Benettoncontrolled. Holding boss Carlo Bertazzo called the takeover a „ milestone in the expansion of our business “. They want to use operating and growth synergies. The Italians are active in motorway, airport and mobility service shops, among others.
The company brings Atlantia to countries where you are not yet active. Nevertheless, Bertazzo also sees „ great growth potential “ for Yunex in the Atlantia core markets Italy, Spain and France. This is also reflected in sales expectations: within five years, it should exceed the one billion euro limit.
Siemens satisfied with the buyer
According to Handelsblatt information, the bidders recently had the financial investors Bridgepoint and KKR in addition to Atlantia, the Czech industrial holding company PPF and the competitor Cubic of the associated companies Veritas Capital and Evergreen Coast Capital.
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Siemens circles were both satisfied with the price and with the fact that a strategic buyer was chosen. This is an important signal for the approximately 3000 Yunex employees.
Atlantia Holding made international headlines after the collapse of a motorway bridge in Genoa. It belonged to the road network of the former Atlantia subsidiary Autostrade per l’Italia (ASPI). After years of conflict with the government, Atlantia sold the toll road operator to a consortium of investors in mid-2021 for a good nine billion euros.
The Italian traffic engineering holding company has been awarded the contract for Yunex. Photo: Reuters
After that, Atlantia had declared that in future it would no longer only be involved in motorways, airports and toll systems, but also in related business areas such as intelligent traffic solutions. Yunex is the largest investment in Germany. A good year ago, Atlantia announced the start of the flight taxi start-up Volocopter. There, however, the Italians only hold a minority share –, they entered the Serie D financing round, that brought a total of 200 million euros.
When asked about further planned investments, Bertazzo was reluctant on Monday evening. He does not want to announce anything that is not yet ready to speak. But: „ There are options in the pipeline that we are pursuing. “
Siemens Mobility's core business, to which Yunex previously belonged, is the construction of trains and signaling technology. In the past 2020/21 financial year, Mobility increased sales by three percent to EUR 9.2 billion. With an operating margin of 9.3 percent, Mobility did not yet meet the new medium-term targets of ten to 13 percent. However, the rail sector has since been more affected by the effects of the corona pandemic.
https://www.handelsblatt.com/unternehmen/technologiekonzern-siemens-verkauft-verkehrstechnik-tochter-yunex-fuer-knapp-eine-milliarde-euro-an-italienische-holding/27983016.html
Technology group
Siemens sells traffic engineering subsidiary Yunex to Italian holding company for just under one billion euros
The holding company Atlantia of the Benetton family of entrepreneurs prevails in the bidding process. The infrastructure investor has strategic interest.
Axel Höpner, Christian Wermke
January 18, 2022 - 9:35 a.m
Yunex offers solutions for intelligent road traffic control.Photo: dpa
Munich, Rome. Siemens sells its traffic engineering subsidiary Yunex Traffic to the Italian infrastructure holding company for just under one billion euros Atlantia. „ We continuously sharpen and optimize our portfolio to Siemens to further strengthen as a focused technology company “, said Siemens CEO Roland Busch on Monday in Munich.
A whole range of financial investors and strategists were interested in the spin-off of Siemens Mobility. The Handelsblatt had already reported on the approaching award for Atlantia. The holding company pays 950 million euros. The transaction is expected to close in September.
The best owner for Yunex Traffic was found, Busch said: „ The competence, long-term orientation and the great commitment to growth and innovation of Atlantia are in the best interest of everyone involved. “ Yunex offers solutions for intelligent road traffic control, from toll systems to traffic light controls. Siemens was no longer part of the core business of its rail technology division.
Yunex's sales were recently more than 600 million euros, and order intake has grown by an average of eight percent in recent years. The company is now operating profitably.
The buyer Atlantia is from the entrepreneurial family Benettoncontrolled. Holding boss Carlo Bertazzo called the takeover a „ milestone in the expansion of our business “. They want to use operating and growth synergies. The Italians are active in motorway, airport and mobility service shops, among others.
The company brings Atlantia to countries where you are not yet active. Nevertheless, Bertazzo also sees „ great growth potential “ for Yunex in the Atlantia core markets Italy, Spain and France. This is also reflected in sales expectations: within five years, it should exceed the one billion euro limit.
Siemens satisfied with the buyer
According to Handelsblatt information, the bidders recently had the financial investors Bridgepoint and KKR in addition to Atlantia, the Czech industrial holding company PPF and the competitor Cubic of the associated companies Veritas Capital and Evergreen Coast Capital.
Related topics
Roland Busch
consequences
Siemens
consequences
Italy
consequences
M&A
consequences
Siemens circles were both satisfied with the price and with the fact that a strategic buyer was chosen. This is an important signal for the approximately 3000 Yunex employees.
Atlantia Holding made international headlines after the collapse of a motorway bridge in Genoa. It belonged to the road network of the former Atlantia subsidiary Autostrade per l’Italia (ASPI). After years of conflict with the government, Atlantia sold the toll road operator to a consortium of investors in mid-2021 for a good nine billion euros.
The Italian traffic engineering holding company has been awarded the contract for Yunex. Photo: Reuters
After that, Atlantia had declared that in future it would no longer only be involved in motorways, airports and toll systems, but also in related business areas such as intelligent traffic solutions. Yunex is the largest investment in Germany. A good year ago, Atlantia announced the start of the flight taxi start-up Volocopter. There, however, the Italians only hold a minority share –, they entered the Serie D financing round, that brought a total of 200 million euros.
When asked about further planned investments, Bertazzo was reluctant on Monday evening. He does not want to announce anything that is not yet ready to speak. But: „ There are options in the pipeline that we are pursuing. “
Siemens Mobility's core business, to which Yunex previously belonged, is the construction of trains and signaling technology. In the past 2020/21 financial year, Mobility increased sales by three percent to EUR 9.2 billion. With an operating margin of 9.3 percent, Mobility did not yet meet the new medium-term targets of ten to 13 percent. However, the rail sector has since been more affected by the effects of the corona pandemic.