Seko Industries, owned by Ibla Industries II fund, has taken over the Kongskilde brand and related product lines from CNH. With that, the development plan of the Italian company, particularly known from its feeder wagon range, proceeds. Seko expects to more than double its annual revenues by taking over Kongskilde.
This transaction is part of Ibla Capital’s plan to develop Seko Industries also through acquisitions, creating a hub in the agricultural mechanization sector to compete in a market that is expected to grow rapidly in the coming years.
Seko Industries, with nearly 50 years of business, is globally recognized in feeding machinery for livestock. Currently the company is among the worlds’ prominent manufacturers of mixer wagons, exporting more than 80% of its production. The experience gained in the field of shredding-mixing machines has also enabled Seko to establish itself in the field of organic waste processing machines. The company currently employs just over 40 people and exceeds 13 million euros in annual revenues. With the acquisition of the Kongskilde business, Seko Industries expects to reach 30 million euros in annual revenues.
Kongskilde was founded in Denmark in 1949. It has been a historical brand in the agricultural machinery industry for decades. Today, Kongskilde’s offerings consist of a full range of equipment for soil preparation and seeding, and for hay and forage production. In addition, Kongskilde offers a line of mixer wagons.
Kongskilde products, currently manufactured at CNH’s Kutno plant in Poland, will from now be produced by Seko at its Curtarolo facility in Italy.
To this end, “Seko plans to double its workforce within the next two years” anticipated Giampaolo Mercati, CEO of Seko Industries “by hiring both new resources in the production area and specialized figures in technical and commercial areas. In addition, as part of the deal, the entire supply chain of Kongskilde products will be gradually rebuilt in Italy, leveraging the company’s manufacturing partners and consequently creating a market of more than 50 million euros over the next 5 years”.
“We are very pleased with this deal completed by Seko, which not only gives birth to one of a strong player in the mixer wagon market (both Seko and Kongskilde have a strong market position globally), but also allows Seko to expand its offerings by entering the agricultural products market, leveraging a well-known and one of the oldest brands in this sector” notes Alessandro Lo Savio, CEO of Ibla Capital.
