FLSmidth has divested MAAG, its gears and drives business, to Solix Group AB

Arrowpoint Advisory’s Industrials sector team has advised Denmark-based FLSmidth & Co A/S ("FLS") on the carve-out and divestment of its MAAG gears and drives business ("MAAG" or "Company") to Nordic PEH, Solix Group AB ("Solix").

FLSmidth & Co is a listed Danish company providing full flowsheet technology and service supplier to the global mining and cement industries. It has over 9,000 employees in over 60 countries worldwide and is headquartered in Copenhagen, Denmark. The divestiture is part of FLS Cement division’s GREEN’26 strategy, which, in combination with a greater strategic focus on the service business, includes focusing the on the core technologies required for the green transition in the cement industry.

MAAG is a leading provider of industrial gears and drives, predominantly to the cement and mining industries. The MAAG product range includes an array of industrial gear solutions for mills and kilns, gear solutions for bucket-wheel excavators and belt conveyors as well as other heavy-duty applications. The Company also manufactures components, such as bevel sets and girth gears up to 11.2m in diameter, and various spare parts.

Solix Group is a private equity investment firm based in Copenhagen, Denmark and Malmo, Sweden. Founded in 2014, the firm has a successful track record of investing in industrial manufacturing assets and acquiring non-core divestments. The acquisition of MAAG will add to its growing portfolio of industrial assets across Europe.

Tom Smith, Director at Arrowpoint Advisory, commented: “We’re delighted to have been able to support FLS on this strategic divestment which marks a further successful European carve-out transaction for our Industrials team. We look forward to watching MAAG continue to perform strongly under its new ownership.”

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