MTM HYDRO acquires the majority share of MORELITE SPA

The company — founded in Cherasco (CN), Italy, with 80 employees and an annual turnover of about € 15 million from the manufacture of a wide range of accessories and car wash machinery — is pleased to announce the formalisation of an important acquisition.

In fact, on 31st March 2022, acquisition of the majority share in the company MORELITE S.P.A. of Serravalle (Republic of San Marino) was finalised. Thanks to the expertise of its founders, this company applies the highest quality standards in the production of a wide range of brushes for roll-over and tunnels for car and truck washing, as well as for trains, trams, buses and special vehicles, photovoltaic panels, etc.

CEO Marco Costamagna remarks that: “With the acquisition of the majority shares of MORELITE S.P.A., M.T.M. Hydro strengthens its presence and expands its range of products for the car wash market, positioning itself as one of the sector’s key manufacturers of accessories and components and thus providing customers with a vast portfolio of solutions and products. Furthermore, as this type of cleaning brush is also used in sectors other than the company’s core business, this acquisition will open up for M.T.M. Hydro new markets and opportunities related to the cleaning of trains, trams, buses and special vehicles, photovoltaic panels, etc.” Mr Costamagna continues: “The industrial plan envisages maintaining the know-how (the company holds numerous internationally-recognised patents), the production and assembly lines at the current site in the Republic of San Marino, while immediately implementing commercial and procurement synergies that will provide the two companies sound new work and development prospective for dealing with an increasingly competitive market, thus ensuring employment stability.

 

CEO Dino Bernardi and partner Edoardo Chiaruzzi, founders of MORELITE S.P.A., hold the remaining shares in the company. Together, they point out that: “It is with great satisfaction that we believe this new corporate structure offers the best way to ensure continued growth, promote our innovative brushes and guarantee development and future investments: in fact, we are about to launch a new brush on the market that we are sure will revolutionise the car wash sector. In this respect, we are looking forward to presenting our solutions together with the broad range of products manufactured by our new partner M.T.M. Hydro at the upcoming car wash trade shows: Uniti Stuttgart (17-19/05/22) and Autopromotec Bologna (25-28/05/22).”  Mr Bernardi concluded: “On behalf of Edoardo, myself and the entire Morelite staff, I would like to thank outgoing partner Fabrizio Mortolini for the support he has provided the company, starting with its foundation and through its growth and development.