Mutares buys Sabo Maschinenfabrik from John Deere

The deal is expected to close in July 2020. Mutares has acquired the company in an all-equity deal.

In a statement, John Deere said that the business is no longer part of its core operations as it plans to shift its focus towards the development of machine technology.

Mutares invests in companies with revenues of €50-500m in non-core business areas, as well as companies that make little profit under their current ownership.

The deal marks Mutares' third investment in 2020. The firm also sold Huber Packaging's Klann Packaging division to Accursia Capital in May 2020.

Company
Founded in 1932, Sabo Maschinenfabrik produces a range of lawnmowers and outdoor power tools. The company sells its products to homeowners, municipalities and gardening and landscaping companies. It has relationships with 1,1000 dealers in the DACH and Benelux regions, as well as in Slovakia, according to a statement. Sabo became part of the John Deere group in 1991.

Based in Gummersbach, Sabo employs 125 people. The company reported negative EBITDA or €5.1m in 2017, according to Bundesanzeiger, and sales of €63m, compared with negative EBITDA of €4.4m and revenues of €62.2m in the previous year.

People
John Deere – Tim Merrett (vice-president of turf and utility).
Mutares – Johannes Laumann (CIO).

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