HEIDENHEIM, GERMANY. Technology Group Voith takes over the company ARGO-HYTOS. Based in Baar, Switzerland, the company develops and produces components for hydraulics and system solutions with a focus on the off-highway sector (agricultural tractors, construction equipment and material handling vehicles). A corresponding agreement was signed on June 6, 2022.
“Voith is the technology leader in drive technology in many industries. We have defined the off-highway sector as an additional growth area for Voith Turbo. With its more than 70 years of experience, focus on technology and innovation as well as a clear customer orientation, the family business ARGO-HYTOS is a perfect fit for Voith. This makes ARGO-HYTOS the ideal entry point for Voith into this promising market,” says Cornelius Weitzmann, member of the Voith Corporate Board of Management and President and CEO of Voith Turbo. “By combining the competencies and resources of ARGO-HYTOS and Voith, we want to offer our customers significant added value. In addition to the successful continuation of the previous growth strategy of ARGO-HYTOS, our primary focus is on the joint development of customer solutions in the megatrend areas of electrification, digitalization and sustainability,” adds Erich Hofer, CEO of ARGO-HYTOS. The company will be continued as an independent brand with the addition “a Voith Company”.
Voith is acquiring 79.5% of the ARGO-HYTOS shares. The further participation of the two previous owners Christian Kienzle and FSP CAPCELLENCE sends a strong signal that ARGO-HYTOS will consistently and continuously pursue its successful path in a new ownership structure.
“ARGO-HYTOS has found its new home as a strategic platform for off-highway applications at Voith Turbo,” says Christian Kienzle, former major-ity shareholder of the ARGO-HYTOS Group. “Voith will enable ARGO-HYTOS to continue and accelerate its long-term growth strategy, thus also of-fering a secure perspective to all our employees,” adds Dr. Spyros Chaveles, Managing Partner of CAPCELLENCE.
The deal is expected to be completed by August 2022, subject to all regulatory approvals. Both parties have agreed not to disclose the financial details of the transaction.