AGCO Corporation acquires Sparex Holdings Limited

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.

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