Hazlewoods Corporate Finance team is delighted to announce that they have recently advised on the majority takeover of an international refuse lorry manufacturer.
Led by Paul Fussell, the deal saw German-based Zoeller-Kipper GmbH acquire 60% of the shares in Italian firm Feg Brivio S.p.A.
Zoeller-Kipper is Europe’s largest producer of specialist waste collection vehicles and equipment for waste management. In 2018, it had a turnover of €270m and employed 1,700 people in six countries.
Family-owned Feg Brivio is a leading Italian manufacturer of waste collection trucks, with more than 550 employees and operations throughout Europe. It has three manufacturing plants, exports to more than 80 countries and had a turnover of €180m in 2018.
Hazlewoods performed due diligence on the UK subsidiaries of Feg Brivio, Farid UK Limited and Farid Hillend Engineering Limited, based in Edinburgh, Scotland.
The deal consolidates Zoeller-Kipper’s place in the global waste disposal market. The company is part of Kirchhoff Ecotech, a division of the Kirchhoff Group, which develops cutting-edge technology to improve waste disposal services and road sweeping.
As part of the transaction, Hazlewoods collaborated with HLB Hußmann, part of the HLB International network, who acted as advisors to Zoeller-Kipper GmbH.
Corporate Finance partner Paul Fussell said: “We are delighted to have been able to advise on the transaction. There is an exciting future ahead for both companies as they capitalise on the natural synergies between them and expand their overall business offering. We wish them every success for the future.”
If you would like to discuss a potential transaction, please contact Paul Fussell at paul.fussell@hazlewoods.co.uk or on 01242 680000.