On 31 October 2018, the Group finalized the sale of its Savoye Division, first announced last July.
Savoye, a global player in the design and integration of equipment, IT solutions and automated systems for logistics centers (2017 sales of €85 million, 565 employees), has joined the Noblelift industrial investment fund, launched by Noblelift Intelligent Equipment Co. Ltd (Noblelift) and two other investors. Integrating Savoye will enable Noblelift Group—until recently focused primarily on forklift trucks—to expand its operations in intralogistics. For Savoye, the tie-up will bring increased international exposure and new resources to accelerate growth outside its traditional markets.
Combined with recovering profitability and a healthy backlog of orders, the deal brings Groupe Legris Industries the financial resources it needs to pursue its growth strategy. The Group is now actively seeking to acquire one or more mid-size European industrial companies with leading positions in niche markets and strong growth potential.