The KION Group, a leading manufacturer in the material handling industry, successfully completed the acquisition of Retrotech Inc. to enhance its automation capabilities in North America, aligning with its growth strategy amid increasing demand for warehouse technology.

Information on the Target

The KION Group is a prominent manufacturer specializing in forklift trucks and warehouse technology, offering a wide range of associated services. With a diverse portfolio that includes renowned brands such as Linde and STILL, the company operates in both western and eastern Europe, and is recognized as the second-largest player in the global industry. For the first quarter of 2016, KION reported a steady growth in order intake, which reached approximately EUR1.297 billion, representing a year-on-year increase of 3.9%. This performance was primarily fueled by robust demand in its core market of western Europe, where order growth was notably strong.

In addition to its core European operations, KION has made significant inroads into the Chinese market, the world's largest market for forklifts. In the first quarter of 2016, KION experienced a 2.5% increase in truck orders compared to the same period in the previous year, highlighting its competitive position in the region. The company's commitment to innovation and sustainability is evident through its strategic investments in electric forklift technology and automated warehouse solutions, addressing the growing demand driven by e-commerce trends.

Industry Overview in the Target's Specific Country

The material handling industry in Europe, particularly in western regions, has shown sustained growth, largely propelled by advancements in e-commerce and the need for efficient logistics solutions. The demand for warehouse trucks and electric forklift trucks has surged, with the total number