Robit acquires Halco companies
First publishedon www.AggBusiness.com
Finnish company Robit, which sells and services global customers in drilling consumables, has entered into an agreement to purchase a majority of Halco Brighouse’s shares, which is the operating company running Halco's down-the-hole operations in England.
Robit has the right and obligation to purchase the rest of the shares (49%) owned by Halco Brighouse management after a year on the basis of an option agreement.
The company's offering is divided into three product and service range: top hammer and down-the-hole products as well as digital services.
Robit has 19 own sales and stock points as well as active sales networks in 115 countries.
The manufacturing units are located in Finland, South Korea, Australia, UK and USA.
The purchase price of the remaining shares is linked to Halco Brighouse’s net sales in 2017, and the maximum purchase price for the remaining shares is €0.35 million.
Robit acquired Halco's operations in the USA via an asset purchase in January 2017. Hence, the latest acquisition complements and finalises the Halco acquisition.
Robitc now owns Halco's global operations, which were transferred from Caterpillar to private ownership around two years ago, and further to two separate companies one in USA and one in UK.
Halco Brighouse operates in a modern factory built by Caterpillar, which is located in Brighouse, county Yorkshire, England. The unit employs approximately 45 people, and manufactures a wide range of down-the-hole drilling consumables ranging from down-the-hole drills to bits and related accessories.