Business, Earthmoving News

CNH to acquire Eurocomach parent

CNH Industrial has signed an agreement to acquire the parent company of mini-excavator manufacturer Eurocomach.

CNH Industrial has signed an agreement to acquire the parent company of mini-excavator manufacturer Eurocomach.

The deal will see CNH Industrial purchase 90 per cent of the capital stock of Eurocomach’s parent company, Sampierana, for €101.8 million (A$164.2 million).

CNH will seek to obtain 100 per cent control over the company across the subsequent four years following the closure of the agreement.

The transaction will be funded with available cash from CNH Industrial with the deal expected to finalise in the fourth quarter of 20201 however it will be subject to the satisfaction of customary closing conditions.

Italian manufacturer Sampierana specialises in the development, manufacturing and commercialisations of earthmoving machines and is recognised within the construction sector for its line of Eurocomach mini excavators and skid steer loaders.

Under the agreement, CNH Industrial will intergrade Eurocomach alongside its existing third-party OEM manufacturers.

CNH Industrial chief executive Scott Wine said the deal would benefit the company’s construction equipment business.

“Sampierana’s exceptional portfolio solidifies our presence in critical market segments and provides our dealers and customers access to industry-leading products backed by our brand, distribution, and manufacturing experience.

“I want to thank Stefano Pampalone, President Construction, and his team, both for driving this deal to completion and for their excellent work turning around our construction business, rightsizing the footprint and returning it to profitability – an impressive achievement given the challenging period.”

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