Vermeer buys minority share of MultiOne
By Riley Simpson01 February 2021
Vermeer Corp has acquired a minority shareholding in MultiOne, the Italian maker of compact articulated loaders, and will now sell the machines through its dealers worldwide.
MultiOne will continue to sell loaders under its own brand outside North America through its existing distribution partners.
The move follows last year’s distribution agreement between the two companies under which MultiOne supplied its loaders with Vermeer-branding for sale by Vermeer dealers in North America and the Caribbean.
Pella, Iowa-based Vermeer said the agreement was so successful that the distribution of loaders – featuring the Vermeer name and produced by MultiOne – will now expand to Vermeer dealers worldwide in 2021.
Doug Hundt, president of Vermeer Industrial Solutions, said the worldwide demand for compact loaders is growing and that his company is “excited to take our partnership with MultiOne to this next level.”
“The demand for compact loaders is growing worldwide, and this puts Vermeer in a great position ...to help our customers reduce their labor needs and get more important work done.”
MultiOne will continue under the leadership of Fiorenza Carraro and Stefano Zanini, with holding company Lifco taking on majority ownership. Its main operations and manufacturing base will remain in Vicenza, Italy.
Vermeer’s minority equity investment also comes on the heels of the company’s acquisition of electric-powered horizontal directional drilling and fluid systems technology from Netherlands company Normag in December 2020.
Meanwhile, Vermeer has sold its forestry mulcher product line to Fecon LLC. Alongside the sale, the two have agreed a global distribution agreement that will be rolled out this year and is intended to provide Vermeer dealers access to an extensive line of mulching equipment. No financial details were provided.