Metabo becomes Japanese
Hitachi has announced the takeover of the Nürtingen-based company Metabo AG by the Paris-based financial investor Chequers Capital.
The purchased price amounted to USD 180 m (EUR 167 m). The transaction still remains to be approved by the antitrust authorities.
Metabo employs 1,800 people worldwide and in 2014 had a turnover of EUR 374 m. Hitachi Koki employs approx. 5,000 people and had a turnover of more than EUR 1 bn in 2014.
By taking over Metabo Hitachi comes nearer to its declared aim of increasing its growth in Europe and mainly in Germany. Both countries are concentrating on the growth segment of battery-driven electric tools.