Wacker Neuson buys concreting supplier
By Murray Pollok14 March 2022
Wacker Neuson is to acquire Spain-based Enar, the manufacturer of concrete vibrators, screeds, vibratory plates, rammers and walk-behind rollers. The price has not been disclosed.
Enar manufactures its products in Zaragoza, Spain and reported worldwide sales of €22 million in 2021. It employs 130 people and has a strong sales presence in Europe and Latin America.
Wacker Neuson said the 100% acquisition would strengthen its market position and extend its international reach, particularly in the field of concrete technology.
“With the acquisition of the Enar Group, we have found the ideal way to expand our offering in the rapidly growing concrete technology market”, said Alexander Greschner, Chief Sales Officer of Wacker Neuson.
“Enar products are excellently positioned and the company has established strong market access, creating highly promising opportunities for our Group,”
He added that the deal would give oit access to new customer groups; “Enar distributes its products through sales channels that are not the focus of our Wacker Neuson brand, so this is a win-win for both parties.”
Jose Luis del Prim Imaz, Chief Executive Officer of Enarco SA, owner of Enar, said; “We are delighted to have gained a strong partner in Wacker Neuson, opening up excellent long-term prospects for our company and the Enar brand.
“I am convinced that the merger will give our employees the best possible development opportunities and that we – together with Wacker Neuson – will be even better placed to meet our customers’ needs as we move forward.”
The transaction is expected to close in the first half of 2022, with thje purchase price settled in cash and treasury shares.