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MTM HYDRO announces that it has concluded the purchase of the majority stake in the company MORELITE SPA of Serravalle (Republic of San Marino)

Cherasco, 04 April 2022

The company MTM HYDRO of Cherasco (CN), 80 employees and a turnover of about 15 million euros, manufacturer of a wide range of accessories and carwash machines, is pleased to announce the formalization of an important acquisition < / span>

On March 31, 2022, in fact, the purchase of the majority stake in the company MORELITE SPA was concluded of Serravalle (Republic of San Marino), a company that, thanks to the experience of its founding partners, produces a wide range of brushes for car-wash and truck-wash portals and washing tunnels according to the highest quality standards, as well as washing trains, trams, buses and special vehicles, photovoltaic panels, etc.

Comment by the Chief Executive Officer Marco Costamagna

"With the acquisition of the majority shares of MORELITE SPA, MTM Hydro strengthens its presence and integrates its range of products for the car-wash market, placing itself as one of the main producers of accessories and components in the sector and thus providing customers with a broad portfolio of solutions and products. Furthermore, since this type of brushes are also used for cleaning in sectors other than the characteristic one of the company, the acquisition will allow MTM Hydro to open new market spaces and opportunities always linked to cleaning such as trains, trams, buses and special vehicles. , photovoltaic panels, etc ...

"The industrial plan provides for the maintenance of know-how (the company boasts the recognition of numerous international patents), production and assembly lines at the current headquarters located in the Republic of San Marino while we will immediately put in place act the commercial and procurement synergies in order to guarantee to the two companies, in the framework 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 his shareholder Edoardo Chiaruzzi, founders of MORELITE SPA, hold the remaining share of the company. Unanimously, they point out a few things:

"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: we are in fact about to launch a new one on the market. 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 MTM Hydro at the next specialist fairs in the car-wash sector: Uniti Stuttgart (17-19 / 05/22) and Autopromotec Bologna (25-28 / 05/22). Mr. Bernardi concludes: "in my name, Edoardo and all the Morelite staff I want to thank the outgoing shareholder Fabrizio Mortolini for the support he provided, starting from the foundation , to the growth and development of the company ".


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