The majority owners of Enarco S.A. have agreed to allow the Wacker Neuson Group to acquire up to 100% of the Enar Group. Equipment manufacturer Enar specialises in the design and manufacture of compactors for light construction.
With this new partnership, Wacker Neuson aims to boost its market share and expand its international footprint, particularly in the field of construction materials and concrete processing technology..
In the concrete technology market, “we have found the ideal way to expand our offering,” Alexander Greschner, Wacker Neuson Group’s chief sales officer, said in a press release. As a result, “Enar products are well-positioned and the company has established strong market access, creating highly promising opportunities for our group.”
The transaction is expected to be completed in the first half of 2022, subject to regulatory approval and the acquisition of all Wacker Neuson Group shares from individual shareholders up to a certain threshold. The purchase price will be paid for with a combination of cash and treasury shares, according to the deal terms.
Wacker Neuson’s partnership with Enar provides a strong foundation for the long-term success of both our company and the Enar brand. Enarco CEO Jose Luis del Prim Imaz stated, “I am confident that the merger will provide the best possible development opportunities for our employees and that we, together with Wacker Neuson, will be even better placed to meet our customers’ needs going forward.”