Jungheinrich Ag To Acquire Storage Solutions Group To Add Strategic Foothold In Fast-Growing U.S. Warehouse Automation Market

German intralogistics pioneer Jungheinrich AG (“Jungheinrich”) is acquiring Indiana-based Storage Solutions group (“Storage Solutions”), a leading provider of racking and warehouse automation solutions in the U.S., to gain enhanced access to the attractive U.S. warehousing and automation market. Jungheinrich has signed a share purchase agreement with Merit Capital Partners, MFG Partners and the management of Storage Solutions for the acquisition of 100% of the share capital in Storage Solutions. The total consideration agreed under the share purchase agreement consists of a purchase price of approximately USD 375 million (which is subject to customary closing adjustments) and a flexible, performance-based component in the mid to high single digit percentage range of the purchase price which can be achieved by the retained Storage Solutions management over three years following completion of the transaction. The acquisition will be financed with available cash and debt with limited leverage impact.