Empoli (FI), October 28, 2024

Sesa (“SESA” – SES.MI), reference player in Digital Technology, System Integration and Business Application for the business segment, with about Eu 3.2 billion consolidated revenues and 5,700 employees as of April 30, 2024, has signed a binding agreement, through Var Group S.p.A., to acquire 55% of the share capital of SMART Engineering GmbH (“SMART Engineering”), that will be progressively integrated in the Var Industries Business Unit, strengthening skills and software solutions for engineering sector in the German market.

SMART Engineering, established in 1996 and based in Buchholz in der Nordheide and Dillenburg (Germany), is focused on Computer Aided Engineering (CAE) software solutions, as well as offering innovative engineering services for FEM/CFD calculations and simulation software, with an engineering enterprise customer set, operating in machinery, electronics, aerospace, defence, automotive, shipbuilding and automation.

 

SMART Engineering, with revenues in the Fiscal Year 2023 of Eu 2 million and an Ebitda Margin of about 12%, is a partner of Siemens PLM Software and Siemens EDA Software (formerly Mentor Graphics), with a team of about 10 skilled resources.

 

The corporate acquisition has been closed on evaluation criteria in line with those usually adopted by Sesa Group (5 times the average normal Ebitda of the target company), with the operative involvement of the Managing Partner and founder of SMART Engineering Rolf Bröske, targeting sustainable growth of skills and specializations and the progressive integration in Var Industries.

 

Var Group, thanks to the aggregation of SMART Engineering in the Var Industries Business Unit, established in 2017 with the acquisition of Tech Value S.p.A., and developed thanks to the following acquisitions of PBU CAD-Systeme GmbH in February 2019, Cadlog Group S.r.l. in May 2021, TRIAS Mikroelektronik GmbH in October 2023 and SmartCAE S.r.l. in January 2024, will generate revenues of approximately Eu 60 million as of April 30, 2025, 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.

 

 

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“Thanks to the acquisition of SMART Engineering, we strengthen our presence alongside the European manufacturing districts, supporting the digital transformation of engineering intensive companies. We strengthen our European digital engineering centre supporting the industrial design, thanks to the most innovative technologies. With the aggregation of SMART Engineering, in the Fiscal Year ending on April 30, 2025, 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, Head of Var Industries.

 

“We are glad to join Var Group and Sesa Group organization, to accelerate our skills development and to contribute with our know-how to the development of Var Industries organization, improving all the digital skills of our human capital, with innovative solutions developed for the benefit of engineering-intensive enterprises of the main European and international districts” stated Rolf Bröske, Founder of SMART Engineering.

 

“We extend our path of skills aggregation, strengthening our specializations in the mechanical and electronic design software solutions sector and further enriching our offering of skills and software solutions for the engineering sector, expanding our customer base and human capital. We will continue to boost our industrial development through bolt-on M&A, with objectives of sustainable and long-term value generation for our stakeholders”, stated Alessandro Fabbroni, CEO of Sesa.