Acquisition of Veth Propulsion Holding, B.V.

Industrial
Acquisition of Veth Propulsion Holding, B.V.

Summary

Baird served as the exclusive financial advisor to Twin Disc, Inc. on this transaction

About

Twin Disc, Inc. (“Twin Disc” or “the Company”) (NASDAQ-GS: TWIN) recently acquired Veth Propulsion Holding, B.V. and its wholly-owned subsidiaries (“Veth Propulsion”) for approximately $59 million (€50 million) financed through cash and new debt. Additional consideration of up to approximately $4 million (€3 million) will be paid in Twin Disc common stock if certain earn-out provisions are met.

Twin Disc designs, manufactures and sells marine and heavy-duty off-highway power transmission equipment. Products offered include: marine transmissions, surface drives, propellers and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches and control systems. The Company sells its products to customers primarily in the pleasure craft, commercial and military marine markets, as well as in the energy and natural resources, government and industrial markets. Twin Disc is headquartered in Racine, Wisconsin.

Veth Propulsion has provided the global marine industry with propulsion and power control products and associated services for over 65 years. Veth Propulsion is a manufacturer of azimuth rudder propellers, thrusters and generator sets, and is a supplier and repairer of diesel engines to inland and offshore commercial and military vessels. Veth Propulsion is headquartered in Papendrecht, Netherlands.
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Industrial
Acquisition of Veth Propulsion Holding, B.V.
Date
July 2018
Company
Twin Disc, Inc.
Transaction
M&A
Sectors
Industrial
Target Location
Europe
Acquiror Location
North America

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