Prima Electro has been acquired by Synov Group

Prima Electro S.p.A., a business unit of Prima Industrie backed by Alpha and Peninsula private equity, has been acquired by Synov Group, a portfolio company of Sagard MidCap. With unique in-house design capabilities and deep expertise in power electronics, supported by a team of 35 engineers, Prima Electro brings highly complementary skills to Synov. The transaction further reinforces Synov’s position as a trusted technological partner for embedded and mission-critical systems.

The acquisition represents Synov’s first strategic platform investment in Italy, a priority geography for the group. Led by an experienced and committed management team, Prima Electro provides a solid foundation for Synov to consolidate its presence in the Italian market. Following the transaction, Synov and Prima Electro are expected to generate combined revenues of more than US$180 million.

Headquartered in Moncalieri, Italy, and founded in 1978, Prima Electro designs and manufactures power and control electronic systems for a wide range of applications. The company employs approximately 170 people and operations located in Italy and China. Prima Electro serves blue-chip clients across diversified and resilient end markets, including industrial automation, rail and transport and energy.

Founded in 1949, Synov is a French organization that specializes in the design and manufacturing of original design manufacturer (ODM) custom-made electronic systems for critical applications. The group supports its clients throughout the entire product lifecycle and operates across multiple sectors, including healthcare; transport; heating, ventilation and air conditioning (HVAC); elevators; energy; security; and defense. Synov employs approximately 820 people, including around 85 engineers, operates 14 subsidiaries and serves more than 400 clients worldwide, with revenues of approximately US$130 million.

Prima Industrie is an industrial innovation group focused on manufacturing automation that serves over 400 clients. Founded in 1977, the group operates primarily in sheet metal working technologies through its Prima Power brand, offering businesses across multiple industries worldwide a comprehensive range of machinery and integrated solutions, from laser processing to bending, punching and flexible manufacturing systems. Prima Industrie employs around 1,850 people, operates eight production plants and research and development centers and generates revenues of more than US$640 million.

Oaklins’ team in Italy acted as the financial advisor to the seller, Prima Industrie, in this transaction.