Dürr completes acquisition of Homag Group
14 November 2014Dürr Technologies GmbH has completed the majority acquisition of Homag Group AG, the world’s largest woodworking machinery manufacturer.
Dürr, a wholly-owned subsidiary of Dürr AG, now holds 55.9% of Homag’s capital.
A sum of €228.1m was paid for the acquisition and Homag is being fully consolidated within the Dürr Group. Dürr acquired 53.7% of Homag’s capital from various principal shareholders of the company, including Deutsche Beteiligungs AG, which relinquished its entire package of shares in Homag (39.5%), as well as the Schuler/Klessmann shareholder group, which sold 3% of Homag’s capital to Dürr.
Under the voluntary public takeover bid, which expired on October 7, Dürr acquired a further 2.1% of the company’s shares on October 14. The relevant national and foreign anti-trust authorities had previously approved the acquisition.
The Dürr Group is one of the world’s leading mechanical and plant engineering firms while Homag is the largest provider of production technology for the wood processing industry. Including Homag, Dürr generates sales revenues of some €3.2bn and has over 13,700 employees around the world.
