According to A-Tec trustee Matthias Schmidt the purchase price is 25 Mio. Euro. In addition Kuhn will take over liabilities so that the total transaction is valued at 37.7 Mio. Euro.
For the 630 employees of the EMCO group, it is assurance for the future of the company and best of all that the company stays in Austrian hands.
Diversification and safeguard of know-how and jobs
Regarding the reasons for the purchase of EMCO, CEO Günter Kuhn says: "EMCO is really the jewel of the A-Tec Group and we are pleased that we were able to take it over and to continue its success and its history as a family company. EMCO is a division which we have searched carefully and deliberately chosen. It will be our third strong pillar and a diversification into a very promising market. We are a family owned company and not an investor. We want to safeguard jobs and know-how in Hallein“.
Günter Kuhn started the company in 1973 in Salzburg and grew it into one of the biggest construction equipment dealer in Europe. Today the Kuhn Group has 14 subsidiaries across 10 European countries and is one of the biggest dealer in Europe for the world renowned brand of Komatsu. In Austria and several other countries Kuhn sells and services Palfinger cranes and Mitsubishi forklift trucks.
EMCO will become the 3rd business unit for the holding besides the construction and lifting/loading equipment. With its 700 employees the Kuhn Group achieved more than 440 Mio. Euro in sales last year. Since 2000, both of his twin-sons Stefan and Andreas are part of the company.
There will be no intervention into the operational side of the business – synergies will have to grow first. For example with the market expansion into Eastern Europe the help of the new owner will be very helpful. “Kuhn’s sales expertise in Eastern Europe is very strong. We want to follow what the Kuhn Group already achieved in those markets“, said Stefan Hansch, CEO EMCO Group.
Besides Hansch wants to send EMCO on a global growth trip. Markets like Brazil, Russia and China are on his radar.
„EMCO did its homework, the new structure is in place and the order books are full. We reached the safe harbor. This surely is a great Christmas gift for all of us at EMCO”, said Hansch.