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SCOUTING CAPITAL ADVISORS ASSISTS ALFAMATION IN THE SALE OF EQUITY TO inTEST CORPORATION
- Milan, March 13, 2024 – Alfamation SpA (“Alfamation”), a leading global provider of cutting-edge test and measurement solutions for automotive, life sciences, and specialty consumer electronics, has signed an agreement to sell its equity to inTEST Corporation (“inTEST”), a company listed on the New York Stock Exchange (NYSE American: INTT) and a global provider of innovative test and process technology solutions for manufacturing and testing in key markets such as automotive/EV, defense/aerospace, industrial, life sciences, security, and semiconductor.
- The deal will allow Alfamation to become part of the U.S. company’s Electronic Test division, strengthening its presence in Europe and expanding its portfolio of services and solutions thanks to its strong capabilities in the design and production of test equipment for the development of innovative systems and solutions for electronics, micro-optics and optoelectronics manufacturing.
- Founded in 1991 with headquarters in Milan, Italy, Alfamation also has a small sales and service subsidiary in Suzhou, China. Alfamation designs, builds and supports a wide range of products, from single functional test modules to fully automated systems for production quality control and product development. Annual sales for 2023 were approximately €23 million, with an order backlog of approximately €13 million. The company has experienced double-digit annual sales growth in recent years.
- inTEST, a Mount Laurel, New Jersey-based company, operates four manufacturing facilities in the United States and has a presence in seven countries. It is a global provider of innovative test and process technology solutions for use in manufacturing and testing in key markets such as automotive/EV, defense/aerospace, industrial, life sciences and security, as well as the front-end and back-end of the semiconductor manufacturing industry.
- Scouting Capital Advisors assisted Alfamation with a team led by Managing Partner Marco Musiani, Managing Director Dino Orlandini, Executive Director Susanna Gerardi and Associate Director Andrea Isacchi.
- For the legal aspects of U.S. law, Alfamation was assisted by New York-based Ortoli Rosenstadt LLP, specifically by Paul Pincus and Aldo Panunzio, M&A head and partner of the firm, respectively, along with counsel Chris Condlin and associate Shanice Harris.
- For the Italian legal aspects, Alfamation and its shareholders have been advised by ADVANT Nctm, specifically with a team led by partner Michele Motta with assistance from associate Paola Giordano.
- Legal advisors for inTEST in the U.S. were Alexander McClean supported by Matthew Eldred of Harter Secrest and Emery LLP. Legal advisors for inTEST in Italy were Mascia Cassella and Stefano Del Vecchio of Masotti and Cassella.
