Recently, KION Group has signed an agreement with the Belgian automation specialist Egemin Group to purchase its Automation division for an enterprise value of approximately EUR 72 million. The transaction is subject to a number of customary conditions precedents and is expected to be closed in the course of the third quarter of 2015.
KION Group is one of the largest suppliers of forklift trucks, warehouse technology and associated services and has increased the number of brands in its portfolio to seven with this acquisition. The company is thus significantly expanding its expertise and capabilities in system solutions for intra-logistics and automation, fields that are seeing increasingly strong demand.
Egemin Automation offers customized solutions for the automation of logistics in warehouses, distribution centers and factories. It delivers automated warehouse systems, automated guided vehicles and in-floor chain conveyors solutions. In fiscal year 2014, the Automation division of the Egemin Group generated approximately EUR 76 million of revenues with over 300 highly specialized employees.