European cab builder Fortaco to be acquired
By Mike Brezonick08 July 2022
Funds managed by Nordic private equity company CapMan Buyout have agreed to sell their holdings in Fortaco Group, a supplier of vehicle cabins and other assemblies for global equipment manufacturers, to private equity firm One Equity Partners. No financial details were provided.
“We are very honored to become a member of the One Equity Partners family,” said Lars Hellberg, president and CEO of Fortaco Group. “With One Equity Partners, we are looking forward to realizing the full potential of Fortaco as the leading business partner of technology, vehicle cabins, steel fabrications and assemblies. In addition, I want to thank CapMan as the owner and the board of directors for their support and trust,”
Headquartered in Vantaa, Finland, Fortaco is a brand-independent supplier to the heavy off-highway equipment and marine industries offering technology, vehicle cabins, steel fabrications and assemblies. The company’s products are used in agricultural, container handling, material handling, surface and underground mining, construction, forestry, marine and power generation applications. Fortaco has factories across seven European countries, in addition to a joint venture with Tata AutoComp in India.
“We look forward partnering with Fortaco CEO Lars Hellberg and his team, applying our industrial sector expertise to support Fortaco in broadening and deepening its offerings in current markets and expanding into new end markets where we believe the company is well-positioned for success,” said Johann-Melchior von Peter, senior managing director at One Equity Partners.
Closing of the transaction is expected in the second half of the year and is subject to regulatory approvals and customary closing conditions.