Twin Disc, Inc. Aquires BCS Group
Twin Disc, Inc. announced the acquisition of BCS Group (comprised of BCS, S.r.l., BCS Service, S.r.l., Boat Equipment Limited and Vetus Italia S.r.l.) located in Limite sull’ Arno, Italy, a manufacturer and distributor of products and accessories for the marine industry. With annual sales of approximately US$29 165 000 the acquisition is expected to be accretive to Twin Disc’s earnings beginning in fiscal 2007. Further, earnings of the BCS Group are expected to exceed Twin Disc’s cost of capital in fiscal 2007. Twin Disc paid US$22 707 000) cash for the BCS Group.
Founded in 1956, by the Bini, Cecchi and Salvadori families, the BCS Group has grown to be a leading supplier of hydraulic power steering systems, bow thrusters, hydraulic flaps, propeller shafts and related components to the Italian yacht building industry. In 1977, the Group became the distributor for Vetus den Ouden NV of Shiedam, Netherlands. Under Twin Disc ownership, Vetus Italia S.r.l. will continue to represent the Dutch company in the Italian market.
Commenting on the acquisition, Chairman and Chief Executive Officer, Michael E. Batten said, “We are very pleased to have BCS Group and its employees a part of the expanding Twin Disc family. BCS and Vetus Italia are important suppliers to the Italian marine industry - the second largest producer of pleasure boats under 24 meters in length and the largest builder of mega-yachts in the world.”
Mr. Batten added, “With this acquisition, Twin Disc now offers a complete line of transmission, propulsion and boat management systems to the marine industry.”
For more information: www.twindisc.com