Stellantis finalises Comau transaction
Stellantis had already announced the deal with OEP in July 2024, and the car manufacturer’s intention to sell its majority stake in the automation specialist has been clear for some time: the planned Comau spin-off was already set out in the 2021 merger agreement between PSA and FCA to form Stellantis.
Following the now finalised transaction, OEP has become the majority shareholder of Comau, while Stellantis remains on board as an active minority shareholder. “This strategic move marks a significant milestone for Comau, positioning the company for enhanced growth and innovation. It also provides Stellantis with the ability to focus on core business activities in Europe,” the car manufacturer announced. The financial details of the Comau transaction were not disclosed.
Stellantis remains not only a minority shareholder, but also one of Comau’s major customers. The robots used to build the electric Fiat 500 come from Comau (pictured). For example, the Italian factory equipment supplier supplied some of the production systems for ACC’s battery production in Douvrin, where Stellantis is also involved. However, Comau is also active for other car manufacturers and sold equipment for producing electric drives to Nio in 2023.
Comau’s top management will remain unchanged under the new majority owner OEP: Alessandro Nasi will serve as Executive Chairman, while Pietro Gorlier will lead the Italian automation specialist’s business as CEO. “The support of One Equity Partners will allow us to capitalise on the growing global demand for advanced automation, with Stellantis as an active minority shareholder,” says Gorlier. “This arrangement preserves our deep-rooted Italian identity while reaffirming Comau’s position as a leading international player in the industrial automation industry, as well as an increasing number of different sectors.”
Ante Kusurin, Partner at One Equity Partners, praised Comau as a ‘leading industrial automation company with significant growth potential and first-rate robotics technology.’ Kusurin added: “OEP is well-positioned to help drive Comau’s next phase of growth as an independent company utilising our industry expertise and established operational playbook for carve-out transactions.”
Stellantis Chairman John Elkann thanked Comau’s employees “for providing innovative products and services to all its customers.” Moreover, Elkann continued that he was “confident that Comau, under its new ownership, has the right leadership, strategy and operational discipline to create sustainable, long-term value for all its stakeholders, from Italy to the world.” Following the premature departure of Carlos Tavares at the beginning of December, an Interim Executive Committee chaired by Elkann is looking for a new CEO for the car manufacturer.
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