Saet Group acquires EDMS

Saet, a global supplier of induction heating equipment in the automotive and wind energy industries, engaged Arietti & Partners - who formerly advised the managers of Saet in a MBI and the acquisition of IEI (India) - to assist the group throughout the process for the acquisition of the majority shares of the Tennessee-based company Engineering Design & Manufacturing Services Inc. EDMS was identified and selected thanks to its specific know-how and patent rights related to the production of induction equipment for the wind energy industry. In June 2009, the parties signed the Share Purchase Agreement and the Shareholder Agreement which would tie together Saet and the sellers (current minority shareholders) for a period of 5 years. After the expiration of the lock-in-period, a call option may be exercised for the remaining shares.