Ålö AB

JOST Werke AG announced the successful closing of the acquisition of Ålö Holding AB, a leading manufacturer of agricultural front loaders. The transaction was completed on January 31, 2020, after antitrust approval, and Ålö will be consolidated as of February 1, 2020.

JOST Werke AG acquired Ålö AB, a supplier of front-end loaders for agricultural machinery, from Altor Funds for an enterprise value of €250 million.

Altor Fund III, Fort Knox Förvaring AB and management investors signed an agreement to divest Ålö Holding AB, a world leader in agricultural front loaders, to JOST Werke AG. The transaction is expected to close in early 2020, subject to merger control approval.

Alo, a supplier of agricultural machinery, will establish operations in Mauldin, South Carolina, with a $6 million investment creating 44 jobs. The facility will include distribution, steel fabrication, and assembly, and is projected to come online in October 2019.

Ålö AB opened a new factory in Ningbo, China, in October 2018, doubling its production capacity for front loader attachments and brackets. The facility includes 2.2 hectares of factory space and 0.175 hectares of office space.