Vermeer purchases minority investment in MultiOne
By Riley SimpsonFebruary 01, 2021
Vermeer Corporation has purchased a minority equity investment in MultiOne, a manufacturer of compact articulated loaders based in Italy.
A year ago, the two companies agreed to a distribution deal, which allowed MultiOne to supply Vermeer-branded loaders to be sold, serviced and supported exclusively through Vermeer dealers in North America and the Caribbean.
The Pella, Iowa-based Vermeer said that last year’s agreement was so successful that the distribution of loaders – featuring their brand 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.”
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.
Despite Vermeer’s investment, MultiOne will remain under its current leadership in Vicenza, Italy, and global holdings company Lifco still has majority ownership of the manufacturer.
Additionally, MultiOne will continue providing blue loaders, with the company’s own branding, through existing distribution partners outside North America.