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The new company brings complementary strengths and a strong commitment to customer-driven innovation to the Angel Group's rail transportation business. MERMEC, ANGELSTAR and MERMEC STE now offer the market one of the most advanced and complete signalling solutions, together with TLC and electric traction solutions.

MERMEC and Sirti announce the closing of the transaction for the total acquisition of Sirti’s Transportation Business Unit assets, disclosed on November 5, 2020.

The transaction took place through the creation of a NewCo that incorporated Sirti’s Transportation activities, focused on the development and supply of technological systems for railway infrastructure.

With the closing of the transaction, 100% of the NewCo is now property of MERMEC, an international company of the Angel Group, operating in 65 countries with more than 1,600 employees and a long tradition of technological innovation, as well as an important portfolio of products and services.

The Newco is now called MERMEC STE, whose acronym is related to the activities of Signalling, Telecommunication, and Energy. MERMERC is now oriented to its listing, starting from a backlog of about EUR 1.2 billion.

This is also an agreement that allows Sirti – 4,000 employees and EUR 700 million revenues in 2020 – to strengthen its financial and strategic positioning; in this context, the company also plans to further develop its Digital Solutions Business Unit both organically and through acquisitions.

The operation has a total financial commitment for MERMEC of EUR 160 million, with a deposit of EUR 92 million, Intesa Sanpaolo being its bank of reference. The law firms representing the parties in the transaction are Guzzetti for MERMEC and Cleary Gottlieb for Sirti.