Deutz Buying Binge Continues
In the wake of its acquisition of the electric drive specialist Torqeedo GmbH, Deutz announced today that it will acquire IML Motori, an Italian sales and service partner based in Lomagna near Milan, a move which simultaneously strengthens its presence in Italy and gives the company market penetration in the service segment.
The subsidiary IML Service and the Romanian sales and service company IML Motoare also form part of the acquisition. Deutz is looking to drive growth in its profitable service business and increase its proximity to customers in the Mediterranean. IML Motori generated around $53 million in revenue in the most recent financial year. The company will trade in Italy under the name DEUTZ Italy.
This is a continuation of the Deutz 'growth through acquisition' strategy, as it was only a week ago that the manufacturer of innovative drive systems announced its acquisition of the electric drive specialist Torqeedo GmbH.