Add-on Acquisition • Machinery

JBT Acquires FTNON

On July 12, 2018, JBT acquired machinery company FTNON from Active Capital Company for 32M EUR

Acquisition Context
  • This is JBT’s 10th transaction in the Machinery sector.
  • This is JBT’s 11th largest (disclosed) transaction.
  • This is JBT’s 3rd transaction in the Netherlands.

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M&A Deal Summary

Date July 12, 2018
Target FTNON
Sector Machinery
Buyer(s) JBT
Sellers(s) Active Capital Company
Deal Type Add-on Acquisition
Deal Value 32M EUR

Target Company

FTNON

Almelo, Netherlands
FTNON is a developer and manufacturer of equipment specialized in the processing of chilled fresh fruit and vegetables, frozen and canned products. FTNON is based in Almelo, Netherlands.
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Buyer Overview 1

Buyer

JBT

Chicago, Illinois, United States

Category Company
Founded 1994
Sector Machinery
Employees5,100
Revenue 1.7B USD (2023)
DESCRIPTION

JBT is a global technology solutions provider to food processing and air transportation industries. JBT designs, manufactures, tests and services technologically sophisticated systems and products for regional and multi-national industrial food processing customers through its JBT FoodTech segment and for domestic and international air transportation customers through its JBT AeroTech segment. JBT was incorporated in 1994 and is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 11 of 19
Sector: Machinery 10 of 14
Type: Add-on Acquisition 8 of 16
Country: Netherlands 3 of 3
Year: 2018 1 of 1
Size (of disclosed) 11 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-31 PLF International

Harwich, United Kingdom

PLF International Ltd. is a provider of powder filling systems for the global food and beverage markets. PLF International was founded in 1994 and is based in Harwich, United Kingdom.

Buy £28M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-22 LEKTRO

Warrenton, Oregon, United States

LEKTRO, Inc. is a manufacturer of electric aviation ground support equipment based in Warrenton, Oregon. We produce a wide variety of towbarless aircraft pushback tractors, each uniquely suited for their class of operation. Whether you need to move a piston-engined aircraft, business jet, commercial airliner, or a military aircraft, there is a LEKTRO model built for you.

Buy $48M

Seller Profile 1

SELLER

Active Capital Company

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
PE ASSETS 184M EUR
Size Small
Type Sector Agnostic
DESCRIPTION

Active Capital Company is a private investment firm focused on investing in small to mid-sized Dutch companies with €10 to €100 million in revenue. The Firm prefers control situations and looks to commit up to €12 per transaction. Areas of interest include industrial goods/services and distribution. Active Capital Company is based in Amsterdam.


Deal Context for Seller #
Overall 2 of 5
Sector: Machinery 1 of 2
Type: Add-on Acquisition 1 of 3
Country: Netherlands 2 of 4
Year: 2018 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-01 FibrXL

Almere, Netherlands

FibrXL is distributor and innovation partner of High Performance Fibers, like Dyneema, Twaron, Technora, Vectran and Zylon and a distributor of industrial yarns like Polyester, Polyamide and Viscose in Europe, Africa and the Americas. FibrXL was founded in 1991 and is based in Almere, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-28 CleanLease

Koudekerk aan den Rijn, Netherlands

CleanLease is a provider of textile rental and industrial laundry services in the Benelux countries. CleanLease was formed in 1910 and is based in Koudekerk aan den Rijn, Netherlands.

Buy -