Vermeer makes a sale and an acquisition
01 February 2021
The first day of February has been a busy one for Vermeer Corp., as the Pella, Iowa, manufacturer bought into one business and sold another, with both moves expected to enhance its dealers’ business.
First, Vermeer announced its purchase of a minority equity share in MultiOne, an Italian manufacturer of compact articulated loaders. No financial details were provided, including the exact share of MultiOne Vermeer now owns.
Next, Fecon LLC announced its purchase of the Vermeer forestry mulcher product line, along with a global distribution agreement with Vermeer that will be rolled out on a controlled basis throughout 2021 and is intended to provide Vermeer dealers access to an extensive line of mulching equipment. No financial details were provided.
The investment in MultiOne comes a year after Vermeer entered a distribution agreement with MultiOne to supply Vermeer-branded loaders to be sold, serviced and supported exclusively through Vermeer dealers across North America and the Caribbean.
Building on what Vermeer said was the early success of last year’s agreement, distribution of Vermeer-branded loaders produced by MultiOne will now expand to Vermeer dealers worldwide beginning this year. MultiOne will also continue to provide blue, MultiOne-branded loaders through its existing distribution partners outside North America.
“We are excited to take our partnership with MultiOne to this next level,” said Doug Hundt, president of Vermeer Industrial Solutions. “The demand for compact loaders is growing worldwide, and this puts Vermeer in a great position with a lineup of proven products, attachments and dealers to help our customers reduce their labor needs and get more important work done.”
MultiOne will continue under the leadership of Fiorenza Carraro and Stefano Zanini, with global holdings company, Lifco, taking on majority ownership. Its main operations and manufacturing will remain headquartered in Vicenza, Italy.
Fecon said it will start the distribution agreement this year with a select, yet global group of Vermeer dealers, as well as strategically specify products and methodically expand from there. The company will assume production and support of the Vermeer model FT100 and FT300 forestry mulching tractors and has begun moving these functions to its Lebanon, Ohio, factory.
“Fecon’s forestry innovation and product lineup is a great complement to our equipment portfolio,” said Hundt. “With a lineup of products that support the land clearing, utility right-of-way and fire mitigation markets, their mulching attachments and tractors will give our dealers a broader portfolio to support those customers we are already working with in those markets.”
Established in 1992 near Cincinnati, Fecon manufactures the Bull Hog forestry mulcher, as well as tracked carriers and tractors and a full range of attachments and other equipment for vegetation management.
“Adding Fecon engineering and technology will make it easier for customers to buy the equipment best suited to their needs,” said Fecon LLC CEO Bob Dieckman. “With their extensive coverage and high standard of customer support, as well as the professional and strategic Vermeer sales organization, we are certain that both organizations will benefit from the partnership.”