Cargotec Corporation and JCE Group AB forms a joint venture named Bruks Siwertell Group

Cargotec and JCE have signed an agreement to establish a joint venture between Swedish companies Siwertell and BRUKS to form Bruks Siwertell Group. Aventum acted as adviser to Cargotec.

Both Siwertell and BRUKS are industry as well as technology leaders in their segments of bulk material handling solutions. Consequently, the companies’ complement each other well and synergy benefits will be created from both an expanded product range and increased geographical reach. As a result, Bruks Siwertell Group will be a comprehensive global actor in bulk material handling solutions.

Siwertell is well-performing and produces good cash flow. However, due to operating in bulk handling, it was deemed to be non-core for Cargotec, leading to Cargotec considering strategic alternatives. The option to continue growing value through a joint venture was found to be the best strategic and financial outcome for Cargotec. The new joint venture offers a solid platform for realizing Siwertell’s full potential.

Discussions and preparations leading to the formation of the joint venture were conducted thoroughly over a long period of time to ensure that all pieces would be in place at the time of the announcement. Signing and closing were done simultaneously, and the new company was immediately operational.

Aventum was present throughout the process.