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Ad-hoc: Jungheinrich AG to acquire Storage Solutions group

A strategic foothold in fast-growing U.S. warehouse automation market 

Today, Jungheinrich AG (“Jungheinrich”) has signed a binding share purchase agreement with Merit Capital Partners, MFG Partners and the management of Indiana-based Storage Solutions group (“Storage Solutions”) for the acquisition of 100% of the share capital in Storage Solutions, a leading provider of racking and warehouse automation solutions in the U.S., to gain enhanced access to the attractive U.S. warehousing and automation market. 

The total consideration agreed under the share purchase agreement consists of a purchase price of approximately USD 375 million (which is subject to customary closing adjustments) and a flexible, performance-based component in the mid to high single digit percentage range of the purchase price which can be achieved by the retained Storage Solutions management over three years following completion of the transaction. The acquisition will be financed with available cash and debt with limited leverage impact and is expected to be EPS, free cash flow per share and adjusted EBIT margin accretive from the day of completion.

The executive board and supervisory board of Jungheinrich have approved the transaction. The completion of the transaction, which is expected to take place in the second quarter of 2023, is subject to customary closing conditions, including receipt of the merger control clearance in the United States.


This announcement may contain statements, assumptions, opinions and predictions about the anticipated future development of Jungheinrich AG (forward-looking statements). All forward-looking statements express current expectations and constitute assessments based on the current planning for the year 2025 and various other assumptions and are, therefore, subject to risks and uncertainties that are not insignificant and are largely beyond Jungheinrich AG‘s control. This includes, inter alia, changes in the overall economic situation, including impacts from geopolitical conflicts, debt issues, the further course of the COVID-19 pandemic, within the intralogistics sector, in materials supply, the availability and price development of energy and raw materials, demand in important markets, developments in competition and regulatory frameworks and regulations, exchange and interest rates and the outcome of pending or future legal proceedings. Should these or other uncertainties or unknown factors apply or the assumptions on which these statements are based prove false, actual results may deviate significantly from the results stated or implied. All forward-looking statements should, therefore, not be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute appropriate indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this announcement has been published. It is the responsibility of the recipients of this announcement to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. No responsibility is therefore taken for forward-looking statements. Without prejudice to existing capital market obligations, there is no intention, nor do we accept any obligation to update any of the forward-looking statements.

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