Wacker Neuson has reached an agreement with the majority owners of Enarco SA to acquire up to 100% of the Enar Group.
Enar makes rammers, plates and pneumatic concrete vibrators, as well as walk-behind rollers for soil and asphalt compaction.
鈥淲ith the acquisition of the Enar Group, we have found the ideal way to expand our offering in the rapidly growing concrete technology market,鈥� said Wacker Neuson chief sales officer Alexander Greschner. 鈥淓nar products are excellently positioned and the company has established strong market access, creating highly promising opportunities for our group.鈥�
Enar generated sales of 鈧�22m in 2021, mostly in Europe and Latin America. It manufactures its products in Zaragoza and employs around 130 people.
鈥淲e are delighted to have gained a strong partner in Wacker Neuson, opening up excellent long-term prospects for our company and the Enar brand,鈥� said Enarco chief executive Jose Luis del Prim Imaz. 鈥淚 am convinced that the merger will give our employees the best possible development opportunities and that we 鈥� together with Wacker Neuson 鈥� will be even better placed to meet our customers鈥� needs as we move forward,鈥�
Wacker Neuson plans to operate Enar as an independent brand. 鈥�Concrete technology has always been one of the Wacker Neuson Group鈥檚 core competencies. This acquisition will strengthen this line of business and give us access to new customer segments. Enar distributes its products through sales channels that are not the focus of our Wacker Neuson brand, so this is a win-win for both parties,鈥� Alexander Greschner added.
Subject to regulatory approval and the completion of the acquisition shares from individual shareholders, the transaction is expected to be closed in the first half of 2022.
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