BDA Advises Hyster-Yale on Agreement to Acquire 75% of Zhejiang Maximal Forklift Truck, China
Summary
Maximal’s historical strength is in China, the world’s largest market and where we want to expand.” Mark Webster, BDA Managing Director, Shanghai, said, “We’re pleased to have supported Hyster-Yale on this highly strategic transaction in the specialty vehicle and equipment sector.The Company’s wholly owned operating subsidiary, Hyster-Yale Group, Inc, designs, engineers, manufactures, sells and services a comprehensive line of lift trucks and aftermarket parts marketed globally primarily under the Hyster® and Yale® brand names.New York, NY, December 19, 2017 --( PR.com )-- BDA Partners is pleased to announce that its client, Hyster-Yale Materials Handling, Inc. (“Hyster-Yale”, NYSE: HY), has entered into a definitive agreement to acquire a 75% stake in Zhejiang Maximal Forklift Truck Co Ltd (“Maximal”) for US$90 million.The transaction is expected to close in the first half of 2018.BDA acted as exclusive financial advisor to Hyster-Yale on the transaction.Maximal, a privately-held, Chinese OEM founded in 2006, is involved in the design, manufacture, service and distribution of lift truck products in both the local China and global markets under the Maximal and SAMUK brands.The Company’s wholly owned operating subsidiary, Hyster-Yale Group, Inc, designs, engineers, manufactures, sells and services a comprehensive line of lift trucks and aftermarket parts marketed globally primarily under the Hyster® and Yale® brand names.