# Comet (Emak group) agrees to buy 83.1% of Lavorwash for about EUR 55M

Comet, part of Emak, signed a binding contract to acquire 83.1% of Lavorwash from Zenith, with an initial valuation of about EUR 54.8 million. Closing is expected in early July 2017.

- Type: Acquisition
- Announced: 2017-05-01
- Where: Pegognaga (Mantova), Italy
- Value: $61.0M (54.8M EUR)
- Status: announced
- Products: pumps, high pressure washers, vacuum cleaners, floor scrubbers
- Sectors: [Pumps and Valves](https://endata.com/sectors/pumps-valves.md)

## Companies

- [Emak](https://endata.com/companies/1360.md) (investor)
- [Emak](https://endata.com/companies/1360.md) (partner)
- [Comet](https://endata.com/companies/1361.md) (acquirer)
- [Zenith S.p.A.](https://endata.com/companies/1362.md) (partner)
- [Lavorwash](https://endata.com/companies/1363.md) (target)

## Sources

- [reggioreport.it](https://www.reggioreport.it/2017/05/colpo-grosso-di-comet-gruppo-emak-compra-per-55-milioni-le-idropulitrici-lavorwash/), 2017-05-01: "ha perfezionato oggi – tramite la controllata Comet- un contratto vincolante per l'acquisizione da Zenith dell'83,1% della società Lavorwash"
- [baldiandpartners.it](https://www.baldiandpartners.it/news-en/baldipartners-acted-as-legal-advisors-to-comet-s-p-a-emak-group-in-acquisition-of-83-1-of-lavorwash-s-p-a/?lang=en), 2017-05-11: "The value of the transaction (in terms of price subject to adjustment) for the acquisition of 83.1% of the share capital of Target is around 54,800,000 Euro."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.