Inside information: Fortaco Group and MauserCABS join forces
Fortaco Group Holdco Oyj, inside information 26 May 2023 at 12.00 p.m. EET
A fully-owned affiliate of Fortaco Group Holdco Oyj has signed an agreement on the acquisition of the entire share capital of Walter Mauser GmbH (“MauserCABS”), a high-precision manufacturer of safety cabins operating in international markets. The closing of the acquisition is estimated to take place during Q3 2023, provided that certain customary conditions for the acquisition are met, including obtaining of the financing and necessary regulatory approvals. MauserCABS will be reported as a part of Fortaco Group from the moment of closing.
MauserCABS is an internationally established excellent niche player for innovative vehicle super structures made for versatile applications. The company has many years of expertise in design, construction, assembly, and service. MauserCABS is successfully active in Europe and in the US. MauserCABS serves the larger value chain in-house with more than 300 people at a modern factory located in Breitenau, Austria. The family-owned company has more than 60 years of experience in safety cabins and the annual net sales was 44 MEUR in 2022.
Through the acquisition, Fortaco is further expanding its geographical footprint and position as a leading vehicle cabin technology and manufacturing business partner in Europe, the US and Asia. Both Fortaco and MauserCABS have respected and complimentary customer portfolios.
Fortaco expanded the cabin business in 2022 through a strategic alliance and became a minority shareholder of Buisard Cabins. Today, Fortaco vehicle cabin business sites locate in Holic/Slovakia, Kurikka/Finland, Sablé-sur-Sarthe/France with a joint venture operations in Pune/India. The key benefits of the acquisition are to boost Fortaco’s profitable growth including being one of the leading vehicle cabin companies within the industry and to further drive technology, sourcing and manufacturing synergies.
Lars Hellberg, President & CEO for Fortaco Group, comments
“With this acquisition, Fortaco is broadening its cabin technology offerings in Europe, India, and the US. Fortaco’s strategy is to be together with Buisard, MauserCABS and Tata AutoComp one of the leading strategic partners to the off-highway equipment OEMs by offering high-quality vehicle cabins, technology development, and a high degree of automated manufacturing, as well as simplification of OEM supply chains with trusted quality and on-time deliveries. MauserCABS is a highly recognized cabin manufacturer with spare parts aftermarket services and technical engineering support. I am excited to start working with the highly experienced MauserCABS team.”
Martin Mauser, Managing Director, MauserCABS, comments
“We have been manufacturing cabins of the highest quality for our customers around the world for more than 60 years. Our success is based on our clear commitment to safety and comfort, the use of high-quality materials and workmanship, as well as an exceeding level of innovation and design. Our long-standing customers value our close collaboration with their development departments to create special cabs that optimally meet their latest requirements. Fortaco is a partner sharing the same values and principles like MauserCABS, which is crucial to the successful future based on the high-level of customer satisfaction. The Mauser Team and I are very much looking forward to this exciting next step in our company’s history.”
Fortaco will specify the impact of the acquisition to its financials guidance for 2023 after the closing of the acquisition. Neither the financial effects of the acquisition nor the purchase price are expected to materially affect the value of Fortaco Group Holdco Oyj’s bonds.
Fortaco Group Holdco Oyj
Board of Directors
For further information
Lars Hellberg
+358 40 572 9488
lars.hellberg@fortacogroup.com
Distribution
Nasdaq Helsinki Oy
Major media
https://investors.fortacogroup.com
Fortaco Group
Fortaco is the leading brand independent strategic partner to the heavy off-highway equipment and marine industries offering zero emission solutions, technology services, assemblies, vehicle cabins, and steel fabrications. Fortaco Group has operations in multiple European and Asian Business Sites and Technology Hubs, which are supporting our global customers. www.fortacogroup.com