FairCap has completed the acquisition of the Överum agricultural plough business in Sweden (“Overum AB”) from CNH Industrial N.V. Överum has been operating as a subsidiary of Kongskilde from Denmark, which is part of CNH.
Overum AB is a manufacturer of agricultural machinery, in particular ploughs, with a long heritage dating back to the 16th century. The company is headquartered in Överum (Sweden). The divesture concerns a production site in Överum, Sweden with 70 employees, intellectual property and inventory related to this product line.
This sale of Överum is due to CNH’s commitment to fully focus its R&D, manufacturing and commercial sales efforts on their core product portfolio and the growth of their in-house tech stack.
Max Koch-Heintzeler, Managing Partner of FairCap, states: “We welcome Överum to the FairCap family and are convinced that Överum, as a stand-alone company can realize its full potential.
Ploughing has been a core agricultural tool for many centuries and will remain a necessity for soil cultivation, especially for weed control in organic farming, which does not allow the use of chemical herbicides.”
Niccolò Azzarini, Head of FairCap Italy, adds: “We are proud to have closed a complex cross border carve-out transaction involving FairCap’s Italian and German offices. Following the carve-out Överum will be able to fully focus on the manufacturing and distribution of ploughs and spare parts.”
Stefano Scalarandis, Associate Operating Partner of FairCap, concludes: “Our team will support Överum during this complex carve-out transition period and in achieving its long-term growth plans. Together with the workforce of Överum, we are committed to making Överum stronger. Improving social, environmental, and economic aspects of the business will be a key element of our future strategy.”
