Specialized transport equipment manufacturer Faymonville from Luxembourg has acquired Italian manufacturer Cometto.
The deal was signed on 3 March and announced, by Alain Faymonville, proprietor, on 7 March at the ConExpo construction equipment exhibition in Las Vegas, USA. Transaction value was undisclosed.
Faymonville said that he wants to invest a lot of money in Cometto. He said he sees synergies between the two companies, for example, in the areas of purchasing and the commercial side. Another benefit will be Cometto's very strong dealer network, Faymonville said, which will greatly enhance the group's coverage as there is very little overlap, he continued.