The KION GROUP AG (“KION Group”), one of the largest suppliers of forklift trucks, warehouse equipment and related services, will become one of the leading global providers of intelligent intralogistics solutions by acquiring Dematic, a best-in-class automation provider and specialist in supply chain optimisation.
The KION Group agreed with funds managed by AEA Investors and Ontario Teachers’ Pension Plan as the sellers on this landmark transaction to create a true global provider with close to 30,000 employees, more than €6.7bn in revenue for the calendar year 2015 and a strong profitability with a combined adjusted EBIT margin of approx. 9.4 per cent for this period.
After deductions for certain liabilities, the KION Group expects the purchase price for the shares to amount to approx. US$2.1bn, based on an enterprise value of Dematic of US$3.25bn.The transaction is subject to customary closing conditions and regulatory approvals and is expected to be closed in the course of the fourth quarter of 2016.