BREMBO ANNOUNCES THE ACQUISITION OF J.JUAN
Stezzano (BG), Italy, April 28, 2021 – With this transaction, the Group expands its brand family and completes the range of solutions for motorbike braking systems.
Brembo has signed an agreement for the acquisition of a 100 percent stake in the J.Juan Group, a Spanish company specializing in the development and production of motorbike braking systems.
Founded in 1965, J.Juan is based in Gavà (Barcelona) and has three plants in Spain and one in China, manufacturing especially brake hoses, and a strategic safety component for braking systems that will complement the current range of Brembo products for motorbikes.
With this transaction, Brembo forges ahead with its path to become a trusted solution provider. The acquisition of J.Juan will enable the Group to complete its range of solutions for the motorbike braking system and to expand its brand family for the growing motorbike sector.
“We are proud to welcome J.Juan in the Brembo Group,” stated Alberto Bombassei, Chairman of Brembo. “This transaction is in line with our global strategy and follows the recent acquisition of SBS Friction in Denmark. We continue to invest with the aim of strengthening our motorbike core business. The addition of J.Juan is a great opportunity for us, as it reinforces our positioning as a company increasingly oriented to offering comprehensive, integrated and high-quality solutions to our customers.”
“We are glad to join the Brembo Group,” stated José Luis Juan, CEO of J.Juan. “The transaction will allow us to become part of a strong company with a solid global footprint that will support J.Juan’s development for the professional growth of all our employees and the benefit of customers.”
Under the agreement, the consideration for the transaction is currently estimated at €70 million, to be paid using available cash. The final price will be subject to the usual adjustment mechanisms envisaged for similar transactions. The enterprise value is €73 million.
The acquisition is subject to the approval of the Antitrust authorities, following which the closing is expected to occur in the second half of 2021.
About Brembo SpA
About Brembo SpA Brembo SpA is the world leader and acknowledged innovator of brake technology for automotive vehicles. Brembo supplies high performance brake systems for the most important manufacturers of cars, commercial vehicles and motorbikes worldwide, as well as clutches and other components for racing. Brembo is also a leader in the racing sector and has won more than 500 championships. Today the company operates in 15 countries on 3 continents, with 26 production and business sites, and a pool of over 11,000 employees, about 10% of whom are engineers and product specialists active in the R&D. 2020 turnover is € 2,208.6 million (12.31.2020). Brembo is the owner of the Brembo, Breco, AP, Bybre, Marchesini and SBS Friction brands and operates through the AP Racing brand.
J.Juan is a family-owned multinational Group headquartered in Gavà (Barcelona, Spain) and it’s a world leader in the design and manufacturing of metallic braided brake hoses. J.Juan is also active in the manufacturing of components of brake systems for motorbike, specifically in the trial segment. The Group consists of four companies, three in Spain and one in China. It operates with two plants in Gavà, one in San Cugat (Barcelona) and one in Jiaxing, in Zhejiang Province (China). Revenues amounted to about €60 million in 2020, with EBITDA of approximately 17%. The Group has a workforce of about 580 people.