ITALY: Siemens Mobility has signed an agreement to acquire key businesses of railway signalling and diagnostics technology specialist MerMec Group from Angelo Holding.
The agreement announced on May 14 covers MerMec’s Italian signalling business, and its worldwide diagnostics and data analytics activities. These businesses employ around 1 700 people, with customers in more than 70 countries and revenue of approximately €430m in FY25.
The transaction does not include MerMec’s investments in Angelstar, Mont Saint Michel and its Compagnie des Signaux subsidiary or MerMec Deutschland. These will form Angel Signaling within Angelo Holding, with 800 employees and a backlog of approximately €2bn.
Closing of the transaction is subject to customary conditions and is expected by the end of calendar year 2026. Financial terms are not being disclosed. MerMec’s employees, sites and industrial capabilities will become part of Siemens Mobility’s global ecosystem, including the ‘key strategic asset’ of the Ferrosud site in Matera.
Siemens said it expects to achieve ‘meaningful synergies’, especially from cross-selling and from expanding the integrated portfolio, with the transaction expected be EPS (pre-PPA) accretive by year two after closing.
‘By combining MerMec’s technological expertise and market access with Siemens Mobility’s global presence and technology leadership, we are strengthening our capabilities in diagnostics, asset-intelligence and signaling capabilities’, said Siemens Mobility CEO Michael Peter. ‘This step expands our industrial footprint in Italy within our world-leading signalling business and significantly enhances our global diagnostics portfolio.’
‘Innovation and sustainable growth’
President of Angelo Holding, Vito Pertosa, said ‘formally, I have been retired for nine months; at present, my health is not at its best, and my children are pursuing their own independent paths with their companies.
‘For this reason, I sought a very solid group in the sector, in order to guarantee a secure future for my valued colleagues, who have contributed to making MerMec the company it is today, wherever they may be. Becoming part of Siemens will offer them a global environment, strongly focused on innovation and sustainable growth.’
Ruggiero Delcuratolo, Head of M&A at Angelo Holding, said ‘in the rush to report the news, some inaccurate information has circulated across certain media outlets regarding values, scope and staff’. Angelo Holding will retain an overall workforce of approximately 1 500, and he said ‘we believe this transaction can generate benefits for all parties involved’.
Pertosa said ‘the transaction will help me invest in the other companies within my industrial holding, as well as contribute to the growth of businesses in southern Italy that need to develop and create new high-quality employment.’