Wacker Neuson has reached an agreement to purchase up to 100% of Spanish light construction equipment manufacturer Enar Group from majority owner Enarco S.A.
Specializing in concrete compaction equipment and technology, Enar Group manufacturers internal vibrators for concrete, vibratory plates, rammers and walk-behind rollers for soil and asphalt compaction.
Wacker Neuson says the move will strengthen its concrete technology portfolio and extend its international reach.
"With the acquisition of the Enar Group, we have found the ideal way to expand our offering in the rapidly growing concrete technology market. Enar products are excellently positioned, and the company has established strong market access, creating highly promising opportunities for our Group," says Alexander Greschner, chief sales officer of the Wacker Neuson Group.
Enar has a strong presence in the European and Latin American markets, with EUR 22 million in global sales in 2021. Enar manufactures its products in Zaragoza, Spain, and employs around 130 people.
"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," says Jose Luis del Prim Imaz, CEO of Enarco S.A.
Wacker Neuson will manage Enar as an independent brand. "Concrete technology has always been one of the Wacker Neuson Group's core competencies. This acquisition will strengthen this line of business and give us access to new customer segments. 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," says Greschner.
The transaction, which is expected to close in the first half of 2022, is subject to regulatory approval and the completion of the acquisition of all shares from individual shareholders up to a certain threshold by the Wacker Neuson Group.