The Wacker Neuson Group, a leading manufacturer of light and compact equipment, has reached an agreement with the majority owners of Spanish Enarco S.A. to acquire up to 100percent of the Enar Group. Enar is a manufacturer of light construction equipment specialised in concrete compaction. Alongside a wide range of internal vibrators for concrete, the company’s product portfolio also covers vibratory plates, rammers and walk-behind rollers for soil and asphalt compaction. The aim of the new alliance is to further strengthen the Wacker Neuson Group’s market position and extend its international reach, particularly in the field of concrete technology. “With the acquisition of the Enar Group, we have found the ideal way to expand our offering in the rapidly growing concrete technology market. Enar products are excellently positioned and the company has established strong market access creating highly promising opportunities for our Group,” outlines Alexander Greschner, ChiefSales Officer of the Wacker Neuson Group.
Enar is a leading company in its sector with a particularly robust presence on the European and Latin American markets. The company operates on a global scale, generating sales of approximately EUR 22 million in 2021. Enar manufactures its products in the Spanish city of Zaragoza and employs around 130 people. “We are delighted to have gained a strong partner in Wacker Neuson, opening up excellent long-term prospects for our company and the Enar brand. I am convinced that the merger will give our employees the best possible development opportunities and that we – together with Wacker Neuson – will be even better placed to meet our customers’ needs as we move forward,” states Jose Luis del Prim Imaz, Chief Executive Officer of Enarco S.A.
Given Enar’s healthy market position and the high level of customer acceptance for its products, Wacker Neuson will manage Enar as an independent brand. “Concrete technology has always been one of the Wacker Neuson Group’s core competencies. This acquisition will strengthen this line of business and give us access to new customer segments. Enar distributes its products through sales channels that are not the focus of our Wacker Neuson brand, so this is a win-win for both parties,” adds Greschner.
Subject to regulatory approval and the completion of the acquisition of all shares from individual shareholders up to a certain threshold by the Wacker Neuson Group, the transaction is expected to be closed in the first half of 2022. The purchase price is planned to be settled in cash and treasury shares.