Merger of AEBI and Schmidt
Swiss Capital Group advised AEBI
Merger of AEBI and Schmidt
Sector(s) : Industry and automotive
Date : April 2007
Advisor(s) : Swiss Capital
Advised : Buy Side
Mid-Capital partner Swiss Capital Group advised AEBI
Through the merger of AEBI and Schmidt, a combined group with a turnover of approx. CHF 500m and 1700 employees has been created. On April 24th 2007, AEBI's shareholder group led by Swiss entrepreneur Peter Spuhler signed an agreement with German private equity firm BWK to acquire 100% in Schmidt. BWK remains invested, taking a minority stake in the newly created AEBI-Schmidt group, the headquarters of which will be in Bussnang, Switzerland.
AEBI Group is a leading manufacturer of agricultural machines (multipurpose transporters and carriers) for use in different terrain as well as municipal vehicles, specifically road sweepers. The firm has production facilities in Switzerland and Austria, exporting its high quality products to more than 30 different countries with main focus on Europe. AEBI employs approx. 450 employees and generates an annual turnover of approx. CHF 120m.
SCHMIDT Group is an internationally leading producer of special vehicles for the clearing, de-icing and cleaning of traffic surfaces (roads, runways, railways). Its headquarters are in St. Blasien, Germany, and has additional production sites in Poland and the Netherlands and exports its machines to all continents based on own distribution subsidiaries as well as its close collaboration with approximately 70 authorised dealers. With its 1,200 employees, SCHMIDT achieves a turnover of approx. CHF 360m.
The merger will facilitate synergies in development, production and in distribution and provides the AEBI-Schmidt Group with an improved competitive position on the international markets. The transaction is subject to approval by the antitrust authorities in Germany and Spain.
Swiss Capital Group acted as sole financial advisors to Aebi's shareholder group, including the due diligence and valuation of SCHMIDT, the negotiations with the seller and the transaction structuring.
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