Formica Capital has committed to acquire shares in engcon AB for up to 46 SEK per share. The acquisition of the shares is in connection with the company’s planned IPO on Nasdaq Stockholm, which is expected to be completed during the second quarter of 2022.
engcon is the world’s leading manufacturer of tiltrotators with a global market share of approximately 45 per cent. The Company was founded in 1990 with the ambition to change the world of digging through product innovation and a focus on end-users. The product offering includes tiltrotators, quick couplers, hydraulic and mechanical tools as well as control and safety systems that contribute to increased profitability, efficiency, flexibility, safety and sustainability.
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Target – Engcon AB
Buyer – Formica Capital AB
Buyer – AP2 Capital AB
Buyer – Handelsbanken Fonder Aktiebolag
Buyer – Nordstjernan Aktiebolag
Buyer – ODIN FORVALTNING AS
Buyer – Strand Kapitalförvaltning AB
Buyer – Svolder Aktiebolag
Seller – Shareholders
