Transaction Update: Jebsen & Jessen to divest its 50% stake in MHE-Demag to Finnish cranes group Konecranes for c. SGD 222 million.

The transaction we announced on 5 December 2019 on the sale of Jebsen & Jessen's 50% stake in MHE-Demag to Konecranes for c. SGD 222 million has completed on 2 January 2020.

Pickering Pacific acted as exclusive financial advisor to Jebsen & Jessen. On a 100% basis, the sales price corresponds to c. SGD 444 million. In 2018, MHE-Demag’s net sales and EBITA were respectively c. SGD 285 million and c. SGD 20 million.

MHE-Demag is a leading supplier of industrial cranes and services in Southeast Asia under the MHE and Demag brands, engineering, manufacturing and maintaining a comprehensive range of industrial cranes and hoists. Its customized solutions serve a wide range of industries and customers from general manufacturing to aerospace.