Baker McKenzie has advised Argo-Hytos Group owners Christian Kienzle and FSP Capcellence on selling a 79.5% stake in Argo-Hytos to the Voith Group.
Closing is expected in August 2022, pending regulatory approval.
Switzerland-based Argo-Hytos develops and produces hydraulics and system solution components with a focus on the off-highway sector, including agricultural tractors, construction equipment, and material-handling vehicles.
Founded in 1867, the Voith Group is a technology company manufacturing machines for the pulp and paper industry, technical equipment for hydropower plants, and drive and braking systems. The group also offers services and digital applications and has locations in more than 60 countries.
According to Baker McKenzie, "Argo-Hytos will continue as an independent brand with the addition of 'a Voith Company.' The further participation of the two previous owners sends a strong signal that Argo-Hytos will consistently and continuously pursue its successful path in a new ownership structure."
"By combining the competencies and resources of Argo-Hytos and Voith, we want to offer our customers significant added value," Argo-Hytos CEO Erich Hofer commented. "In addition to the successful continuation of the previous growth strategy of Argo-Hytos, our primary focus is on the joint development of customer solutions in the megatrend areas of electrification, digitalization, and sustainability."
The Baker McKenzie team was led by Switzerland-based Partner Alexander Fischer, Counsel Matthias Trautmann, and Associate Eva Kriechbaumer, and included Czech Republic-based Partner Tomas Skoumal, Associates Petra Jilgova-Benesova, Vlastimil Kreysa, Marek Disman, Michal Simcina, Dusan Hlavaty, Jonas Kozak, Jan Venc, and Timoteus Hudcovic, and Paralegal Michaela Sturmova, Poland-based Associate Pawel Jaros and Trainee Lawyer Anna Pawluczuk, as well as teams from the Netherlands, the US, China, Germany, the UK, France, Sweden, Turkey, and Italy.
Baker McKenzie was unable to disclose further information on the deal.