Nidec Techno Motor to acquire 100% stake in Sole Motors

Japanese spindle motor manufacturer Nidec Corporation, through its subsidiary Nidec Techno Motor Holdings Corporation (NTMC), has agreed to acquire 100% stake in Sole Motors from Appliances Components Companies SpA (ACC), an Italian manufacturer and marketer of components for household and commercial appliances.

Sole Motors is a special purpose vehicle to which ACC will transfer its household motor business. Under the terms of the transaction, ACC will transfer its household motor business, currently conducted by ACC and ACC Hungary, into Sole Motors. It is also expected that 100% of the shares of ACC Hungary will be transferred to ACC, which will then transfer the shares to Sole Motors prior to the transfer of the household motor business to Sole Motors or, alternatively, Sole Motors will directly acquire 100% of the shares of ACC Hungary.

The transaction is expected to close on or prior to December 31, 2009.

Deal Type    Acquisition
Sub-Category 100% Acquisition
Deal Status  Announced: 2009-10-20

Deal Participants

Target (Company)   Sole Motors
Acquirer (Company) Nidec Corporation
Vendor (Company)   Appliances Components Companies SpA

Deal Rationale

The acquisition enables Nidec Group to strengthen and expand its small- and mid-sized motor business.

Related terms: acquisition, business, commercial, household, hungary, japan, manufacturer