Sale to Hitachi Koki Co, Ltd.

Industrial
Industrial
Sale to Hitachi Koki Co, Ltd.

Summary

Baird served as exclusive financial advisor to Chequers Capital on this transaction

About

FPCI Chequers Capital XVI (“Chequers Capital”) and Hitachi Koki Co., Ltd. (“Hitachi Koki”) (TSE: 6581), a listed subsidiary of Hitachi, Ltd. (“Hitachi”) (TSE: 6501), has acquired Power Tool Invest B.V., the parent of Chequers Capital’s portfolio company, Metabo AG (“Metabo” or the “Company”), and minority shareholders’ stakes.

Metabo AG is a leading manufacturer of power tools and a supplier of accessory equipment for skilled craftsmen with particular strength in LiHD battery technology. Under its brand name, Metabo offers a full range of products to its core target groups of metal craftsmanship professionals, the metal industry and the construction and renovation trades. Founded in 1924 in Nürtingen, Metabo manufactures in Shanghai, China in addition to its plant in Nürtingen. 25 distribution companies and more than 100 importers ensure a strong international presence. Metabo has 1,800 employees worldwide. The company generated sales of €374m and €409m in 2014 and 2015, respectively. Metabo is headquartered in Nürtingen, Germany.

Hitachi Koki is a leading manufacturer of power tools and life-science instruments with a global footprint, and is proud of its track record and reputation for reliability over many years. Hitachi Koki’s power tools fulfil a wide range of needs from professional users to DIY users. With strength in technological expertise and development with emphasis on “monozukuri” (craftsmanship), Hitachi Koki is focusing on development of products that match user needs. Hitachi Koki is headquartered in Tokyo, Japan.

Hitachi delivers innovations that answer society's challenges with a talented team and proven experience in global markets. The company's consolidated revenues for fiscal 2014 (ended March 31, 2015) totaled ¥9,761bn yen ($81.3bn). Hitachi is focusing on the Social Innovation Business, which includes power & infrastructure systems, information & telecommunication systems, construction machinery, high functional materials & components, automotive systems, healthcare and others. Hitachi is headquartered in Tokyo, Japan.

For additional information about this transaction, please contact:

Joachim Beickler +49 (0) 69 1301-4951
Sven Harmsen +49 (0) 69 1301-4956
Chris Cooper +1 (0) 704 553-6610
Satoshi Matsumoto +1 (0) 646 557-3201
Industrial
Industrial
Sale to Hitachi Koki Co, Ltd.
Date
March 2016
Company
Metabo AG
Transaction
M&A
Sectors
Industrial
Industrial
Target Location
Europe
Acquiror Location
Asia

Share