 Noblelift has acquired French automated intralogistics company Savoye. |
Chinese forklift manufacturer Noblelift has acquired French automated intralogistics company Savoye.
Savoye president Rémy Jeannin says: "The tie-up with Noblelift reflects our focus on growth and will position Savoye as one of the top 20 intralogistics specialists worldwide. This move comes amid a wave of consolidation in the past few years, as world logistics players have pooled their strengths to stay competitive, offer the best technology and expand their global reach. At Savoye we agree with this strategy: to grow faster over the long term, we must broaden our scope."
Jeannin is referring to moves like Toyota's purchases of Vanderlande and Bastian Solutions, KION's acquisition of Dematic, and Jungheinrich's 2015 take-over of MIAS Group.
Savoye, a division of Legris Industries, will be acquired by the Noblelift industrial investment fund, which was set up by Noblelift Intelligent Equipment Co. Ltd and two other investors. The move will broaden Savoye's access to global intralogistics markets, notably giving it a presence in China which is on track to become the world's largest market.
Savoye will also continue its current deployment in the United States.
The proposed sale has been approved by employee representatives at Savoye, and the company's management team will stay on. There will be no change to its organisational chart or to jobs or core structures at subsidiaries and production sites, according to a company statement.
The agreement will take effect once the buyer secures the necessary approvals from Chinese officials, and the deal is expected to be finalised in the second half of 2018.
Savoye describes itself as a global designer and integrator of IT solutions, automated systems and other equipment for logistics hubs. It designs, manufactures, assembles and deploys automated equipment and IT, delivering customised solutions at every stage in the supply chain.
Savoye has 609 employees and reported 2017 sales of EUR85 million (USD99 million).
Noblelift Intelligent Equipment Co. Ltd is engaged primarily in research, development, manufacturing and sale of manual and electric-powered forklifts. The company focuses on three main products: small, light transport vehicles, electric warehouse/handling vehicles, and electric trucks used in handling, transport and warehousing.
Noblelift has a workforce of 1,564 and reported sales of USD326 million in 2017.
Financial terms for the deal have not been disclosed.