In September, a binding purchase agreement for the takeover of 100% of the shares of Voith - Werke Ing. A. Fritz Voith GmbH & Co.KG in Traun by Eurocrane came into force. Eurocrane and Voith-Werke signed an equity purchase agreement whereby Eurocrane offered an approximate EUR49 million (USD57 million) for Voith-Werke, through its Austrian unit Eurocrane Austria Holding.
Ing. Voith has been involved in the construction of innovative industrial cranes for 70 years. The Austrian company is one of the most successful manufacturers of special cranes in Europe. The Voith cranes are completely developed, designed, planned and manufactured by the approx. 170 employees at the plant in Traun - on the mechanical as well as the electrotechnical side.
The Managing Directors Andreas Lackner and Ing. Hubert Strasser will continue to guide the fortunes of the company. Mr. Lackner said, as reported on Deal Advisors: "This opens up great opportunities for Voith to expand its international activities into additional markets."
Following approval by the authorities, the transaction is expected to close in the fourth quarter of 2018.
Aquin & Cie. was an exclusive M&A adviser to the sellers. LeitnerLeitner was responsible for the financial and tax advice. The legal support was provided by Haslinger / Nagele.
Eurocrane was advised on the buyer side by ACS Consulting and LinkChina Capital. In the field of finance and taxes, BDO supported Müller legally.
