DANA acquired S.M.E. S.p.A. (SME) for $88 million paid at closing ($62 million cash plus $26 million note payable), a transaction completed in January 2019, structured as combination (cash plus note payable).
S.M.E. S.p.A. (SME) operates in Off-Highway, is based in Italy, had revenue of about added $21 million of sales in 2019. A 100% ownership interest in S.M.E. S.p.A. of Italy, which designs, engineers, and manufactures low-voltage AC induction and synchronous reluctance motors, inverters, and controls for a wide range of off-highway electric vehicle applications, including material handling, agriculture, construction, and automated-guided vehicles.
The addition of SME's low-voltage motors and inverters, which are primarily designed to meet the evolution of electrification in off-highway equipment, significantly expands Dana's electrified product portfolio.
Added off-highway-tuned low-voltage electric motors and inverters to Dana's electrification portfolio. Significantly expands Dana's electrified product portfolio for off-highway equipment Off-Highway operating segment
The addition of SME's low-voltage motors and inverters, which are primarily designed to meet the evolution of electrification in off-highway equipment, significantly expands Dana's electrified product portfolio.Dana FY19 10-K, Note 2 Acquisitions
Advisory firms were not disclosed for this transaction.