17 million euro deal
Bonfiglioli completes takeover of O&K Antriebstechnik
On November 20, 2018, Bonfiglioli and Carraro completed the takeover process of O&K Antriebstechnik GmbH. The Italian drive specialist Bonfiglioli acquired the remaining shares for a total of 17 million euros. This makes Bonfiglioli the sole owner of O&K Antriebstechnik GmbH.
The strategic considerations and cooperation mechanisms behind the agreement signed jointly by Bonfiglioli and Carraro back in November 2015 have increased O&K Antriebstechnik's total turnover over the last three years from EUR 36 million in 2015 to an expected EUR 65 million in 2018.
"The strategic considerations to exploit the market complementarity between Bonfiglioli and O&K Antriebstechnik and the positioning of the two brands resulted in very positive market reactions and led to very important operational synergy effects. We intend to continue on this path" - says Sonia Bonfiglioli, President of Bonfiglioli - "by further expanding the market for heavy construction and mining machinery as well as marine, port and airport equipment, thus further increasing Bonfiglioli's global leadership in power transmission and control".
"In such a dynamic market, we have taken the opportunity to accelerate the sale of the remaining O&K Antriebstechnik shares in order to further focus on our core business," adds Enrico Carraro, President of the Group. "The correctness of this process, which started three years ago with a trustworthy partner like Bonfiglioli, is also confirmed by the excellent results of the German company."
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