ITASCA, Ill. — Robertshaw® announced that it has signed a definitive agreement with Star Capital SGR and other shareholders to acquire 100 percent of CastFutura S.p.A., a leading provider of combustion, safety, and ignition products for cooking and heating applications.
Since its founding in 1969, CastFutura has built a strong reputation and track record for offering innovative and reliable products for gas systems including burners, thermocouples, spark plugs, igniters, and switch harnesses.
“As part of Robertshaw’s growth strategy, the acquisition of CastFutura expands our cooking presence in Europe, South America, and the Middle East and reinforces Robertshaw’s commitment to our customers and to the markets that we serve,” said Mark Balcunas, CEO and president of Robertshaw.
“We are excited to be joining the Robertshaw Group and see this as an opportunity to build on our successes and enhance market penetration of our product range globally,” said Marco Bonfigli, CEO of CastFutura.
CastFutura employs approximately 750 employees and operates six manufacturing facilities globally along with its headquarters and engineering center in Terno D’Isola, Italy, which is approximately 30 miles outside of Milan.
Terms of the transaction were not disclosed. Closing of the transaction is subject to customary conditions precedent including antitrust clearance.
Robertshaw was advised on this transaction by Hogan Lovells. CastFutura was advised by William Blair and Accinni, Cartolano & Associati.
Publication date: 11/1/2018