Helsinki – CFI is pleased to announce that it has acted as exclusive financial advisor to Häggblom in the sale of its Track Systems and Spare Parts & Wear Parts business units (ITR) to USCO S.p.A.
Häggblom has concluded a business purchase agreement with a newly founded company ITR Häggblom, fully owned by USCO S.p.A, whereby ITR Häggblom acquires Häggblom’s Track Systems and Spare Parts & Wear Parts business units. ITR Häggblom will focus on the development of track crawler applications and providing service to construction contractors and machine shops. The company’s headquarters will be in Kokkola.
Häggblom is a leading Finnish and Swedish supplier of solutions and components for earthmoving mining machines. Following the acquisition, the company will focus on the core business in Finland and Sweden in line with its new strategy. This includes the company’s own products, such as buckets of all sizes suitable for Häggblom’s customer’s demanding use, mining truck bodies as well as spare parts and wear parts for these, together with life cycle services provided to customers, such as maintenance and condition monitoring. The acquisition will not affect the operations of Häggblom’s Swedish subsidiary.
USCO is a global leader in components for earth moving machines. The company was founded in 1989 and is headquartered in Modena, Italy. USCO, through its world-wide recognized brand ITR, manufactures and distributes an extensive range of undercarriage, ground engaging tools, track systems and repair parts for construction earthmoving machines. With 17 manufacturing sites in Italy, Spain, UK, UAE, India, South Korea, China and USA, and 54 distribution and service centres in North and South America, Africa, Middle East, Europe, Australia and Asia, USCO employs approximately 2,000 employees.
The deal was closed on 15 February 2022.
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