MTM HYDRO takes over the majority share of MORELITE SPA

MTM HYDRO AND MORELITE

MTM HYDRO, manufacturer of a wide range of carwash accessories and machines, is pleased to announce the formalization of an important acquisition.

The company from Cherasco (CN), with 80 employees and a turnover of around €15 million, on March 31, 2022 completed the purchase operation of the majority stake in the company MORELITE S.P.A. of Serravalle (Republic of San Marino), a company which, thanks to the experience of its founding members, produces a wide range of brushes for car washes and truck washes according to the highest quality standards, as well as washing trains, trams, buses and special vehicles, photovoltaic panels, etc…

Comments the Chief Executive Officer Ing. Marco Costamagna:

“With the acquisition of the majority shares of MORELITE S.P.A., M.T.M. Hydro strengthens its presence and integrates its range of products for the car-wash market, positioning itself as one of the main manufacturers of accessories and components in the sector, thus providing customers with a broad portfolio of solutions and products. Furthermore, since this type of brush is also used for cleaning in sectors other than the company's characteristic one, the acquisition will allow M.T.M. Hydro to open up new market spaces and opportunities always linked to cleaning such as trains, trams, buses and special vehicles, photovoltaic panels, etc…”

Continue Eng. Costamagna:

“The industrial plan provides for the maintenance of the know-how (the company boasts the recognition of numerous international patents), of the production and of the assembly lines at the current headquarters located in the Republic of San Marino while we will immediately implement commercial and procurement synergies in order to guarantee the two companies, in the context of an increasingly competitive market, new job prospects, development, solidity for the benefit and guarantee of employment stability".

The Chief Executive Officer Dino Bernardi with the shareholder Edoardo Chiaruzzi, founders of MORELITE S.P.A., hold the remaining share package of the company. Unanimously, they point out that:

“With great satisfaction we believe that the new shareholder structure is the best way to continue to grow the company, to make our innovative brushes known and to guarantee development and future investments: in fact we are about to launch a new brush that we are sure will revolutionize the car-wash sector. In this regard, we are looking forward to presenting our solutions together with the wide range of products of our new partner M.T.M. Hydro at the next specialist exhibitions in the car-wash sector: Uniti Stuttgart (17-19/05/22) and Autopromotec Bologna (25-28/05/22)”

Concludes Mr. Bernardi:

“On behalf of myself, Edoardo and all the Morelite staff, I want to thank outgoing partner Fabrizio Mortolini for the support he has provided, starting from the foundation, to the growth and development of the company”