AGCO Corporation acquired Sparex Holdings Limited for GBP 53 million.
AGCO entered into a purchase agreement to acquire the entire issued share capital of Sparex Holdings Limited and its subsidiaries from Rubicon Partners Industries LLP for approximately GBP 53 million. Sparex is a global distributor of replacement parts and accessories for agricultural tractors and machinery, and the transaction was expected to close in December 2010.
The deal expanded AGCO's aftermarket replacement-parts business, adding a recurring-revenue distribution channel that complements its equipment sales across a large installed base of tractors.
Advisory firms were not disclosed for this transaction.