STAR7 assesses potential investments as it seeks to develop capabilities in the engineering sector

STAR7 continues to pursue external growth through a dual-track approach of internationalisation and competence-building.  The company has two target companies on its radar, intended to consolidate and expand its engineering consultancy business.

Valle San Bartolomeo (Alessandria, Italy), 30 November 2022

STAR7 (EGM: ticker STAR7) is seeking to develop its Engineering Service Line with the dual goal of building capabilities in the sector and strengthening the company’s presence in key markets. STAR7 provides an integrated range of product-information services – from product and process engineering support to the creation and management of technical and marketing content, translation, printing and virtual experience.

STAR7’s desire to develop its engineering business goes hand-in-hand with its intention to pursue external growth. As such, it is evaluating opportunities to acquire target companies that will help the Group to achieve these goals. Among various opportunities, STAR7 has signed a term sheet to map out scenarios and prospects for a potential acquisition of Gruppo CAAR S.p.A., a firm specialising in engineering process support, or specific business units of the CAAR group (the “Potential Acquisition”). The Potential Acquisition is considered to be especially synergistic with STAR7’s growth plans, both to strengthen relationships with shared customers and to develop its presence in strategic markets including Italy, Eastern Europe and Brazil.

At the date of this press release, the Potential Acquisition is undergoing initial consideration; STAR7 has not yet entered into any binding commitments. If initial discussions are successful, the Potential Acquisition is likely to be completed in the fourth quarter of 2023. The transaction would enable STAR7 to take a significant step forward in its offering of engineering consultancy services, especially in sectors that are already strategic for the Group, such as Automotive, Aerospace & Defence, Railways and Agriculture, as well as in new sectors such as Electronics.

“Engineering is a key sector for the creation and management of product information, because it is the starting point for developing the content,” says Lorenzo Mondo, CEO of STAR7. “Being there when the technical information is born and built up is key to activating the cross-functional services that underpin our business model – and our ‘Integrale⁷’approach – and to being seen by our clients as a partner throughout the value chain of their product.”

STAR7 will promptly disclose any developments in relation to the Potential Acquisition in accordance with current laws and regulations, including if a binding agreement is reached.

STAR7

For more than 20 years, STAR7 has served its customers as a leader in the product information sector. Support for product and process engineering, creating and managing technical content, as well as marketing, translation, printing and virtual experience: with its services, STAR7 is able to support the industrial activity of customers throughout the life cycle of the product, from the design phase to after-sales. The hallmark of STAR7 has always been an approach capable of combining specific know-how, technology and overall perspective to offer the best possible solutions to the needs of customers and the global market. This approach has seen STAR7 strike major partnerships with leading international companies, establishing it as a reliable and credible global partner. STAR7 is part of the STAR Group network.
www.star-7.com

FOR FURTHER INFORMATION:

INVESTOR RELATIONS
investorrelations@star-7.com

Paolo Castagno, CFO e Investor Relations Manager STAR7
Tel: +39 0131 1988872
E-mail: paolo.castagno@star-7.com

Blue Arrow - IR Advisor
Maria Grazia Mantini
Mob: +41 78 723 6840 
E-mail: mariagrazia.mantini@bluearrow.ch

MEDIA RELATIONS STAR7
mediarelations@star-7.com

Piera Alasia, Chief Marketing Officer
Tel: +39 0131 19788 
E-mail: piera.alasia@star-7.com

Spriano Communication & Partners - Ufficio stampa
Fiorella Girardo
Mob: +39 348 857766
E-mail: fgirardo@sprianocommunication.com

Cristina Tronconi
Mob. +39 346 0477901
E-mail: ctronconi@sprianocommunication.com