Lincoln International: Private shareholders and FSP CAPCELLENCE have agreed to sell a majority stake in ARGO-HYTOS to Voith

Private shareholders and FSP CAPCELLENCE have agreed to sell a majority stake in ARGO-HYTOS to Voith

ARGO-HYTOS
ARGO-HYTOS is a Swiss-based, global leading specialist for customized integrated hydraulic system solutions in mobile and stationary applications with more than € 200 million in sales. The company has 75 years of experience in fluid and motion control and filtration technology, mainly serving original equipment manufacturer customers with key application areas in the agricultural, construction, material handling and wind power industries. ARGO-HYTOS’ core products include hydraulic system solutions and components, such as filters, filter elements and tanks, valves and integrated systems and sensors and condition monitoring equipment. In addition, the offering is complemented by an increasingly growing share of aftermarket sales of replacement parts.

The Deal
Following a comprehensive and highly competitive process involving both strategic and financial investors to find a partner for its next stage of growth, the shareholders of ARGO-HYTOS have found a compelling strategic platform in Voith’s off-highway segment, within the Voith Turbo division. The transaction will enable ARGO-HYTOS to continue and accelerate its long-term growth strategy and develop, in unison, in the areas of electrification, digitalization and sustainability.

Christian H. Kienzle, Founder and Chairman of ARGO-HYTOS, reflected, “Lincoln was selected by the shareholders because of its multinational and empathetic advisory team. We were presented with very interesting options to realize our target to find a new partner for our company, to grow our business, safeguard our company culture and smoothly hand over the responsibility for our employees. The Lincoln team provided professional guidance and was leading us through the process in a calm but consequent and effective manner with the relevant parties. Lincoln’s disciplined and transparent actions were highly appreciated by the different parties involved. They listened carefully to the management, the shareholders and potential investors and helped us to find consensus in our decision. I want to thank the Lincoln team for their excellent job and want to pay respect for their professional way of working as a great international team.”

Hauke Heinbockel, Managing Director at FSP CAPCELLENCE, stated, “Lincoln’s joint Swiss and German deal team listened to shareholders and management with exceptional professional competence, emotional intelligence and tireless energy and advised us patiently and consequently. The distinct ideas of the stakeholders for the implementation of ARGO-HYTOS’ platform strategy were fully taken into account with several very good options developed. Ultimately, the stakeholders succeeded in finding the best new owner and realizing their goals very well for ARGO-HYTOS.”

Our Perspective
Øyvind Bjordal, Managing Director and head of Lincoln’s Switzerland office, commented, “The sale of ARGO-HYTOS to Voith marks an exemplary transaction in the Swiss and German industrial market, which we are proud to have facilitated, and we congratulate both sides for the excellent outcome.” Richard Floto, Managing Director in Lincoln’s Industrials Group, added, “It is an example of how the combination of two highly innovative international players with similar values can propel both companies forward to create a global leader in the off-highway machinery market.”

Voith
Voith is a global technology company with a portfolio of systems, products, services and digital applications in the markets of energy, paper, raw materials and transport and automobile. The family-owned group has a history of over 150 years and operates in three divisions: Voith Hydro, Voith Paper and Voith Turbo. Voith is a leader in drive technology with a clear focus on innovation, technology and customer orientation. In 2021, Voith generated approximately € 4.3 billion in net sales.

„The Lincoln team provided professional guidance and was leading us through the process in a calm but consequent and effective manner. I want to thank the Lincoln team for their excellent job and want to pay respect for their professional way of working as a great international team.“ – Christian H. Kienzle, Founder and Chairman of ARGO-HYTOS