SANFORD, Maine — An Italian manufacturing company has acquired a majority interest in Maine Manufacturing LLC, which employs about 105 people in Sanford, according to a news release.
The Bologna-based GVS Group, which manufactures filtration devices for the medical and automotive sectors, released the statement Tuesday, saying it had “joined the existing investors of Maine Manufacturing by providing investment capital to acquire a majority equity interest in Maine Manufacturing and dramatically grow the business.”
The release did not offer specifics about what the acquisition might mean for the Maine company, nor did it reveal any financial information about the investment.
It did say that by “combining their respective technical expertise, sales and distribution networks, the two companies will work closely together to maximize market penetration in the life science market and leverage the strengths of each company.”
Calls to Bill Emhiser, Maine Manufacturing’s CEO, were not returned as of Thursday afternoon. In a statement included in the release, however, he said he was “very excited” about the “new relationship.”
“This alliance will allow Maine Manufacturing to access the global sales network of GVS, and their worldwide R&D will provide additional impetus to our market and product expansion,” Emhiser said. “We anticipate great results from the partnership between our two groups.”
Maine Manufacturing used the investment capital provided by GVS Group for a previous acquisition from GE Healthcare of a line of filtration products used by the food and beverage industry.
Massimo Scagliarini, CEO of GVS, said in a statement that he had “high expectations” for the investment.
“Maine Manufacturing brings us broad and extensive experience in the Life Science Market. Their highly skilled management team, wide product portfolio, and significant sales volume, enhanced by their recent acquisitions, will give GVS’s Laboratory Division a far greater level of visibility in this market allowing us to generate considerable new business opportunities.”
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