Independent international investment company Pindustry has completed the sale of Shropshire-based Fullwood Milking to Dutch group, JOZ, in a deal supported by FRP Corporate Finance.
Headquartered in Ellesmere, Shropshire, with offices in the Netherlands and Belgium, Fullwood Milking is a leading supplier of high-quality milking systems and robots to the agricultural sector. It operates in 80 countries worldwide with an extensive dealer and agency network.
JOZ specialises in contemporary barn cleaning solutions and has been developing manure and feed pushing systems for livestock farmers for more than 70 years. This deal will make JOZ a one-stop-shop for dairy farmers worldwide as it incorporates Fullwood Milking’s complementary product range into its group. Funding support has been provided by Rabo Investments, part of Rabobank Group.
The deal was supported by Gary Hyem and Fahim Kassam from FRP Corporate Finance in Birmingham. Eversheds Sutherland in Birmingham and London provided sell-side legal advice.
As part of the deal, Fullwood Milking will maintain its base in the UK, the Netherlands and Belgium and all employees remain with the company. It will also maintain all existing services with its dealer network.
Roel Nizet, a spokesperson for Pindustry, said: “As a result of this deal, Fullwood and its employees are embarking on a new, long-term phase under JOZ’s wings. By joining forces, there will soon be a strong, high-tech dairy company with a complete product range.”
Fahim Kassam, senior manager at FRP Corporate Finance, added: “The dairy farming market has developed at a brisk pace in recent years and there is real demand for high-tech solutions that enable farmers to work more productively. Fullwood Milking is a fantastic, innovative business and by combining its own research and development with that of JOZ’s there is huge growth potential. It’s been a pleasure to support the team on this deal.”
Arend Kuperus, CEO of JOZ, said: “At JOZ, we specialise in developing robots and smart solutions for barns, but until now we didn’t have our own milking systems. With this acquisition, we can now provide end users with innovations in the field of milk production, alongside our existing range of efficient manure removal and smarter feed distribution systems.”