SOURCE: Suzo-Happ

Suzo-Happ

September 11, 2014 16:28 ET

Suzo-Happ Acquires Comesterogroup, a European Market Leader in Payment Technology and Self-Service Hardware

MOUNT PROSPECT, IL--(Marketwired - Sep 11, 2014) -

  • Significantly expands Suzo-Happ's presence in key European markets including Italy, France and Spain
  • Provides access to cashless payment processing technology
  • Enhances engineering capabilities and manufacturing capacity
  • Completes coin handling product portfolio with field proven validation technology

Suzo-Happ announced today that it has completed the acquisition of Comesterogroup S.r.l., a leading provider of electronic payment systems and self-service equipment to the carwash, gaming, laundromat and vending industries throughout Europe. The Comesterogroup range of products and services includes a variety of payment systems and self-service machines that incorporate award winning design and cutting edge electronic technologies. Comesterogroup is headquartered in Gessate, Italy just outside of Milan.

The Comesterogroup acquisition significantly expands Suzo-Happ's presence in Key European markets: Italy, France and Spain; and broadens Suzo-Happ's diversification with access to new end-markets through Comesterogroup's carwash and laundromat automation components. Comesterogroup's products include the RM5 coin validator that when combined with Suzo-Happ's hoppers and other coin dispensing products, give customers access to complete coin handling solutions that together represent an installed base of more than 2,000,000 units. Comesterogroup has more than 5,000 customers that are an important addition to Suzo-Happ's growing customer portfolio and their 150 employees are a critical expansion of resources and human capital.

Davide Chionna, Comesterogroup President, said, "Suzo-Happ has always been a key part of our build-buy partner innovation strategy. Suzo-Happ's commitment to support our speed of innovation and the level of quality offered by Comesterogroup's management will allow us to be an industry leader to our valued customers through our sales force, productive capacity, service and after-sale support."

The acquisition provides Suzo-Happ access to new technologies including Europe's leading closed-loop cashless system. It will also result in significant operational synergies in combination with Suzo-Happ's existing European business including a broadened suite of products for vending component solutions and overall manufacturing capacity.

"The transaction combines complementary strengths to create a unique company with unprecedented capabilities in coin handling and the next generation of payment processing," said Harald Wagemaker, Suzo-Happ Executive Vice President of Sales and Marketing, Europe. "With this acquisition, Suzo-Happ further expands its manufacturing capacity to improve its offering of value added component integration and contract manufacturing services."

Riccardo Chionna, Comesterogroup Managing Director, said, "Suzo-Happ completely aligns with our vision for the future of automated payments. Through our shared efforts we have an even greater opportunity to deliver the most comprehensive range of payment solutions in all the markets in which we have always been a forerunner."

About Comesterogroup:
Comesterogroup is a leading company in the supply of payment systems and self-service equipment. Founded in Italy during the 1970s, the company quickly grew internationally with 150 employees serving its customers through branches and offices in Argentina, France, Germany, Poland, Spain and the UK. Comesterogroup's vast product range includes coin and banknote validators, cashless payments systems, coin/banknote change machines, car wash start systems, cash points and coin and banknote counters. For more information, visit www.comesterogroup.com.

About Suzo-Happ:
Suzo-Happ operates in the global amusement, gaming, industrial, transportation, retail and vending markets by serving equipment operators and original equipment manufacturers. The company supplies a wide variety of components, consumables and hardware products and provides marketing, engineering, design and technical repair services. The product lines offered by the company include currency handling equipment, display solutions, control devices, machine operation components, environmental products and consumables. The company's almost 600 employees serve more than 20,000 customers worldwide. Suzo-Happ has manufacturing, engineering, distribution and service capabilities in 13 countries globally. More information is available at www.suzohapp.com. Suzo-Happ is owned by Acon Investments, a Washington, D.C.-based private equity investment firm with more than $4.0 billion of capital managed. For more information, visit www.aconinvestments.com.

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