PESARO, Italy - Biesse S.p.A. announced it will acquire CNC equipment maker Uniteam S.p.A., giving the diversified machinery manufacturer entry into the wood construction market. Biesse, which specializes in systems for the woodworking/panel processing, glass, stone and composite material markets, said the acquisition will also help broaden the group's presence in the advanced materials and composites sectors.

Terms of the deal, announced May 19, include a cash investment of $2.35 million (euro $2.1 million)  upon signing, plus an earn-out payment up to an $560,000 (euro $500,000) based on achieving prescribed targets. The deal is for 100 percent of the Thiene (VI), Italy-based firm.

Founded in 1991, Uniteam specializes in the design and production of multi-axis work centers for the wood construction sector, interior woodworking including furniture, windows and stairs, and for advanced materials processing with special applications ranging from the automotive sector to the bio-medical, nautical and aerospace sectors.

According to information from Biesse Group, the company currently has approximately 3,300 employees in its main production sites in Pesaro, Alzate Brianza, Bangalore, Dongguan and associates/branch offices in Europe, North America, Latin America the Middle East, Asia and Australia. In North America, Biesse can be reached at (877) 824-3773 or visit Biesse.com.