LU-VE Group-backed SEST completed the acquisition of Italia Wanbao-ACC.

LU-VE Group-backed SEST completed the acquisition of Italia Wanbao-ACC, an operator of a hermetic motor-compressors business. Financial terms were not disclosed. "With this operation, the company aims to expand its production base, making the activity of the Mel plant compliant and consistent with the Group's core business, installing heat exchanger production lines there. I would like to thank all the parties who have contributed to the achievement of the objective, starting with Extraordinary Commissioner Maurizio Castro. We are also proud to have been able to contribute to safeguarding jobs in the area, which otherwise would have been lost. I welcome our new colleagues who from tomorrow will be part of the LU-VE family," Michele Faggioli, LU-VE COO.