Drive specialist Bonfiglioli has reached an agreement to acquire Selcom Group from funds controlled by Avenue Capital Group and Europa Investimenti. Selcom Group specializes in the development, production and distribution of printed circuit boards, electronic products and software solutions and offers products for the industrial, biomedical, automotive, intralogistics and household appliance sectors. The completion of the transaction is subject to the usual regulatory approvals.

With the takeover, the Italian drive specialist aims to strengthen its electronics division. This division was originally created in 2001 with the acquisition of the German company Vectron Elektronik, now Bonfiglioli Vectron; the company develops and manufactures electronic drives for electric motors, primarily for the industrial sector. According to the company, this acquisition not only increases Bonfiglioli's development capacity, but also its vertical integration, competitiveness and control of quality standards.

Fausto Carboni, CEO of Bonfiglioli, on the planned takeover: "The acquisition of Selcom is an excellent opportunity for Bonfiglioli, as Selcom has a great deal of expertise in both project planning and production processes, which perfectly complements our skills. It is also an extremely dynamic and determined company in terms of sales, which supplies many large and important customers at its locations in Europe and China, two strategically important markets, which in turn is strong evidence of the high level of professionalism and competitiveness of this company."

The Selcom Group, based in Castel Maggiore near Bologna in Italy, generated a turnover of around 150 million euros in 2022, achieving growth of 15% compared to the previous year despite the adverse circumstances in the supply of electronic components. The Group has four production facilities in Italy and two plants in Shanghai (Qingpu), giving it an annual production capacity of around seven million electronic products. It employs around 750 people in total.

The Selcom Group also acts as a system integrator and offers its customers turnkey automation systems tailored specifically to their requirements. The company's own engineering department with around 70 employees in Italy and China covers the areas of research and development, process engineering for hardware, software and mechanics as well as the in-house development of test methods for product validation.