ACQUISITION OF ESETY SPA BY MUL-T-LOCK® (ASSA
ABLOY)
Legal Adviser for Mul-T-Lock: BOROKOVSKY & Co.
(Israel)
Italian Legal Adviser and Legal Due Diligence for Mul-T-Lock: PINCI & ASSOCIATES,
Milan, Italy
Italian Tax Due Diligence for Mul-T-Lock: STUDIO BENINI, Florence, ITaly
Pinci & Associates Pllc, Law Offices (“P&A”,
www.pincilaw.com) successfully represented MUL-T-LOCK® (www.multlock.co.il)
in the acquisition of Esety SpA (www.esety.com), a leading Italian manufacturer
of high security locks. Esety is based near Venice, employs 50 people and
has a turnover of EUR 8 M. The acquisition was carried out by Mul-T-Lock
Technologies Italy Srl (www.mul-t-lock.com/928.html), and the Esety business
has now been merged into this Italian subsidiary of the Mul-T-Lock Group.
The transaction was led by Shimon Shekel, President of Mul-T-Lock, and was
coordinated on the legal side by the General Counsel of the Mul-T-Lock Group,
Reuven Borokovsky, Managing Partner of Borokovsky & Co., Law
Offices,
based in Yavne, Israel. The Pinci & Associates M&A Team was led by
Marcantonio Pinci, with Alessandro
Bianchini, based at the P&A Milan
and Florence offices, in charge of the Italian legal due diligence. The P&A
Team’s work was supported by Enrico Benini and
Alessandro Lapini of Studio Benini, CPAs, based in Florence, Italy. Financial, technical and environmental
due diligence was carried out internally by Mul-T-Lock.
The Mul-T-Lock Group (www.multlock.co.il), with 700 highly skilled employees,
and subsidiaries in the North and South America, Europe, Africa and the Middle
East, is a worldwide leader in developing, manufacturing and marketing High
Security products for institutional, commercial, industrial and residential
applications. Mul-T-Lock holds hundreds of international patents for its
innovative products, which include mechanical cylinders, locks and padlocks,
electromechanical locking systems, automatic assembly and key-cutting machines
and complementary accessories, and is now part of ASSA ABLOY. ASSA
ABLOY (www.assaabloy.com) is the global leader in door opening solutions, dedicated
to satisfying end-user needs for security, safety and convenience. ASSA ABLOY
is represented in all major regions, with leading positions in much of Europe
and North America and in Australia. Since its founding in 1994, ASSA ABLOY
has grown to an international group with 32,000 employees
and sales of over SEK 33 billion (USD $4.7 billion).
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