All conditions precedent specified in the agreement signed by Wielton have been fulfilled.
JP Weber team undertook as M&A advisor full representation of Wielton’s interests and provided it with comprehensive advisory on each transaction phase.
As a result of takeover of Langendorf GmbH, Wielton acquired four subsidiaries. Under the agreement, at the first stage Wielton takes over 80% of shares in the Langendorf Group. The remaining 20% of shares the company will acquire in four steps by the end of 2022.
JP Weber team undertook as M&A advisor full representation of Wielton’s interests and provided it with comprehensive advisory on each transaction phase. The project was managed by Gregor Piechowiak, Managing Partner at JP Weber.
The Wielton Group has been building its position on the European market for two years, based on acquisition of strong local brands. In May 2015, Wielton acquired Fruehauf, a leading manufacturer of semi-trailers and trailers in France, In August of the same year, the Group was joined by the Italian company Viberti Rimorchi (former Italiana Rimorchi). All these activities have opened for Wielton the way to gaining the position of the third largest European player in the industry. The acquisition of Langendorf will enable to diversify the product portfolio as well as increase the market share of the Group in Germany. It is also the first step in the implementation of the new growth strategy 2020 of the Group announced by Wielton at the beginning of April this year.
Langendorf was established in Germany 125 years ago and today the group has one production site and 37 service points in Germany and 28 in the European countries. With an annual revenues amounting to EUR 48 million, the company is one of the leading manufacturer of inloaders for transporting glass or concrete parts, tippers and special vehicles.