Buhler Versatile completes Atlas Group acquisition
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Winnipeg-based Buhler Versatile Inc. announced on Monday the completion of its acquisition of German construction machinery manufacturer Atlas Group.
The transaction was first announced in June and officially closed on Oct. 1, following the satisfaction of the required closing conditions. Financial terms of the deal will remain confidential, the company said in a news release. As part of the acquisition, more than 200 jobs at Atlas will be retained.
“The completion of this acquisition marks an important milestone for Buhler Versatile and our long-term growth strategy,” Zafer Ozbalaban, president of Buhler Versatile, said in the release. “Atlas brings an established European brand, valuable engineering expertise and a strong manufacturing heritage. Together, we have an opportunity to expand our capabilities, strengthen our international presence and build a more diversified equipment manufacturing business.”
The addition of Atlas broadens Buhler Versatile’s equipment portfolio beyond its agricultural equipment brand, expanding into construction and material handling equipment. It also strengthens the company’s European manufacturing presence, with Atlas continuing operations at its established locations, including Ganderkesee, Delmenhorst and Vechta in Germany, and Bradford, England.
Buhler Versatile is a subsidiary of ASKO Group, which has more than 2,500 employees and operations across Turkey, Canada and the United States.
— Free Press staff