Italian automotive and motorcycle brakes industry giant Brembo has signed an agreement for the acquisition of a 100 % stake in SBS Friction A / S of Svendborg , Denmark . A Brembo news release states that " the transaction will allow the integration of such a strategic component as brake pads in Brembo ' s current product range , with particular attention to the environment , and further strengthening Brembo ' s leadership in the motorbike sector . " This acquisition is in line with Brembo ' s new mission to become a respected solution provider , with a view to meeting the new sustainable mobility paradigms and offering the best driving experience ". Alberto Bombassei , Chairman of Brembo , is quoted as saying : " We are particularly glad to welcome SBS Friction to our Group . Despite the highly complex market context ,
Brembo has maintained its natural propensity to invest in innovation . This acquisition is an important step in our strategy : it enables us to integrate even more specific competences in a key sector to further strengthen our range of ' made-in-Brembo ' solutions for the benefit of our customers ." Peter Eriksen Jensen , Chairman of SBS Group , stated : " Brembo has long been a trustworthy partner that knows the value of SBS Friction ' s technological knowhow and its strong niche position . We are pleased that SBS Friction will get a strong , long-term industrial owner who will support the company ' s continued development . The transaction is a good solution for SBS Group , SBS Friction , the employees and the city of Svendborg ." The transaction entails a
Alberto Bombassei , Chairman of Brembo : " The transaction will allow the Group to integrate brake pads in its two-wheeler product portfolio , strengthening its leadership in this strategic sector ."
consideration of 224m Danish Kroner , equal to approximately $ 35.7m , which will be paid using available cash , and is subject to the customary adjustment mechanisms as for similar transactions . Enterprise value is 300m Danish Kroner , equal to about $ 47.8m . The agreement is expected to be finalized in the first quarter of 2021 . SBS Friction ' s revenue declined by 11 % in the first half of 2020 to DKK 74 million ( around $ 11.8m ) due to COVID-19 , while the profit margin ( EBITDA recurring ) increased by + 2.8 % points to 27.3 % on the back of efficiency initiatives and postponement of certain activities . In the second half of 2020 , the company ' s results have so far exceeded the level realized in the record year of 2019 .