Endurance Technologies acquires Grimeca Srl for Euro 2.25 million
Endurance Adler SpA, Italy (EA SpA), the step-down subsidiary of Endurance Technologies Limited and a direct subsidiary of Endurance Overseas Srl, Italy has acquired Grimeca Srl, Italy with effect from 21st May, 2020.
The company has acquired a 100% stake in Grimeca for Euro 2.25 million. Endurance said the acquisition will help the company to strengthen technological prowess in the braking systems.
Endurance expects the acquisition to provide impetus to the growth opportunities for the Company’s braking business in India, both for domestic and export markets.
The company has paid Euro 0.9 million for the 100% stake in Grimeca and Euro 1.35 million for technical know-how and intellectual property rights of braking systems and chassis components, and the “G Grimeca” brand.
Grimeca, which has been a technology provider for braking solutions to Endurance since 2015, is involved in designing and developing new braking products for motorcycle and light-vehicles, including ‘co-design’ with OEM customers.
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