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Successful takeover of the Austrian crane manufacturer Voith

On September 11, 2018 the Chinese crane company Eurocrane signed a binding share purchase agreement to acquire 100% of the shares of Ing. A. Fritz Voith Werke, Traun.

Ing. Voith has been active in the construction of innovative industrial cranes for 70 years. The Austrian company established itself as one of the most successful producers of special crane systems in Europe. Voith cranes are entirely designed, developed, planned and produced by around 170 employees in the plant in Traun - from the mechanical as well as the electrical engineering side.

Eurocrane was founded in 2002 by entrepreneurial couple Irene Jin and Tony Tao. Since then, the company has developed itself to be one of the most significant producers of high-quality cranes and lifting equipment in Asia. Being a listed company now, a majority share of Eurocrane still remains in the hands of the founders.

Joining Voith marks an important step for Eurocrane towards establishing an even more international footprint with strong local brands.

After regulatory approvals by the relevant authorities, the transaction is expected to be closed during the fourth quarter of 2018.

Eurocrane was advised by ACS Consulting as exclusive M&A advisor in the transaction. In the area of finance and taxes BDO provided support. Müller Partner supported in legal matters. Aquin & Cie. was acting as exclusive M&A advisor for the sellers. LeitnerLeitner was responsible for financial and tax matters and Haslinger/Nagele provided legal advice.

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