Scaglia INDEVA acquires majority stake in SysDesign

Scaglia INDEVA acquires majority stake in SysDesign

Continuing its expansion project in products and systems for the intelligent factory, Scaglia INDEVA S.p.A. acquires a majority stake in SysDesign S.r.l. by contributing the assets of the INDEVA Cobotics division. Exit for the Cysero Fund, managed by AVM Gestioni SGR and promoted by Kilometro Rosso.

Scaglia INDEVA SpA, leader in the production and sale of industrial manipulators, Cobots, AGVs, and Lean modular systems, and the Cysero fund and Neway Industrial Srl, shareholders of SysDesign Srl, a young company active in the field of robotic automation, have signed an agreement whereby Scaglia INDEVA S.p.A. acquires a majority stake in SysDesign Srl.

On 1st March 2024, the transaction closing took place: Scaglia INDEVA acquired 28% of SysDesign’s capital held by the Cysero fund, promoted by AVM Gestioni SGR and Kilometro Rosso, and participated in a reserved capital increase to support the company’s growth. In a second step, by the end of April 2024, Scaglia INDEVA will contribute to SysDesign its INDEVA Cobotics business unit, currently responsible for the engineering and sales of Ithe INDEVA AGVs and Cobot-based solutions, as well as the domestic distribution of Doosan’s collaborative robots.

Significant synergies in research and development, production, and effective utilization of the international sales network will result from this transaction, thanks also to the strong complementarity of the product range of SysDesign and INDEVA Cobotics.

SysDesign Srl, which will be renamed INDEVA SysDesign Srl, will position itself as a supplier of flexible robotic automation solutions for the integrated factory with a special focus on production line automation and intelligent palletizing.

The entire team as well as the founders of SysDesign, the Franceschini brothers, who will retain an important minority share in the new company, will continue in their current positions, guaranteeing continuity of management and relations with customers and suppliers.

Both customers and suppliers of SysDesign will benefit from the development of current activities, which will be made possible by the integration into a major industrial Group.

“With this acquisition, INDEVA strengthens its presence in the fast-growing market of robotic automation and mobile robotics. In SysDesign we have found technology and expertise, as well as a wide product range that very well complements INDEVA’s,” says Stefano Scaglia, Managing Director of Scaglia INDEVA SpA and the Scaglia Group.

Andrea and Marco Franceschini, founders and managing directors of SysDesign declare that “It will be a great honor and at the same time an exciting challenge to become a center of excellence for robotics for the entire Group. Through INDEVA’s extensive sales network, SysDesign will be able to access the European and North American markets, guaranteeing its customers local presence and high levels of service”.

Stefano Gallucci, keyman of the Cysero Fund says: “This exit, the first for the Fund, demonstrates the team’s ability to read the market and identify the best opportunities from a strategic and technological point of view. The sale to a major industrial player is one of the possible – and most likely – exit strategies in the deep tech sector. SysDesign’s story is a good example of the role venture capital can play in Italy.”.

The Cysero Fund, with this transaction, generated an IRR for its investors of around 30%.

‘The role of AVM and its funds is to select start-ups that can be trusted and bring them to successful combinations,’ emphasizes Giovanna Dossena, Principal of AVM Gestioni.

“SysDesign is an example and a concrete translation of this model.

The transaction was assisted by advisors Renato Tassetti of Studio Pedroli-Venier &Associati and Massimo Zamorani of Deloitte Legal for Scaglia INDEVA SpA, Sara Brunelli of Studio Comma for Neway Industrial Srl and Matteo Pratelli of Bonelli Erede for the Cysero fund.