Baker McKenzie advises ARGO-HYTOS in the sale of 79.5% of their shares to Voith Group

Baker McKenzie has advised the two owners of ARGO-HYTOS Group, Christian Kienzle and FSP CAPCELLENCE, on selling their 79.5% of the shares in the company to Voith Group, a German industrial technology group. Through this deal, Voith has acquired a majority stake in Argo-Hytos, the Swiss hydraulic components manufacturer backed by mid-market sponsor Capcellence.

A corresponding agreement between the parties was signed on 6 June 2022 but the deal is expected to be completed by August, subject to certain regulatory approvals. Both parties have agreed not to disclose the financial details of the transaction.

By combining the competencies and resources of both companies, ARGO-HYTOS will focus on the joint development of customer solutions in the megatrend areas of electrification, digitalization and sustainability. ARGO-HYTOS will continue as an independent brand with the addition of “a Voith Company.” As Voith announced, “the further participation of the two previous owners Christian Kienzle and FSP Capcellence sends a strong signal that ARGO-HYTOS will consistently and continuously pursue its successful path in a new ownership structure.”

Based in Baar, ARGO-HYTOS Group develops and produces components for hydraulics and system solutions with a focus on the off-highway sector, including agricultural tractors, construction equipment and material-handling vehicles. The family business, with more than 1,600 employees, has more than 70 years of experience in fluid and motion control and filtration technology in mobile and industrial hydraulics. The company has become an innovation leader in the area of mobile hydraulics.

From the other side, the Voith Group is a global technology company. With its broad portfolio of plants, products, services and digital applications, Voith sets standards in the energy, paper, raw materials, and transport and automotive markets. Founded in 1867, today Voith has around 20,000 employees and earns EUR 4.3 billion in sales. It has locations in more than 60 countries and is one of Europe’s major family-owned companies.

The Baker McKenzie team was led by partner Alexander Fischer (m&a, pictured left) together with Eva Kriechbaumer (associate, m&a, pictured centre) and Matthias Trautmann (counsel, m&a, pictured right). The team also includes Samuel Marbacher (partner, banking and finance), Alexander Blaeser (partner, m&a), Markus Wolf (associate, banking and finance), Roger Thomi (associate, antitrust/administrative), Nadine Bosshard (associate, IP and technology law), Sammy Guidoum (associate, banking and finance), Boris Wenger (partner, antitrust/administrative), Sandra Marmy (associate, IP and technology law), Geraldine Messmer (associate, IP and technology law), Andreas Becker (associate, litigation/arbitration and dispute resolution), Vinzenz Sutter (associate, real estate and property development Law), Eric Schreiner (paralegal, IP and technology law), Hayley Ryerson, Anna Bachmann and Anja Keller (all trainee lawyers). In addition to the Swiss legal team, other offices have also been involved in the deal as Amsterdam, Belfast, Berlin, Chicago, Hong Kong, Istanbul, St. Petersburg, London, Milan, Munich, Paris, Prague, San Francisco, Stockholm and Warsaw as well as FenXun Partners.