Comer Industries has announced it acquired Walterscheid Powertrain Group; Walterscheid has characterized the move as a merger.
Comer has agreed to purchase Walterscheid from One Equity Partners (OEP), a private equity firm based in New York. OEP will retain a significant minority shareholding in the new company.
Combining the companies creates one of the largest global providers of powertrain equipment with complementary product portfolios and aftermarket parts and services for industries serving agriculture, construction, and wind power.
The combined sales of the two companies in 2020 were €792 million, or $941 million.
Comer Industries is based in Italy; Walterscheid Powertrain Group in Germany. The Italian company is best known for its mower beds, according to Agriland. It lists about 15 products on the Association website. Walterscheid specializes in transmitting power with its PTO shaft and also lists clutches, drivelines, and gear boxes on the Association site.