System integrator Savoye is acquired by Noblelift, a China-based investment fund. Under the new owner, Savoye aims to become "a world-class intralogistics player". China in particular will be a key growth market for the intralogistics solutions provider.
The Savoy Division is currently still under Groupe Legris Industries. From the second half of 2018, Noblelift will become the new owner. This industrial investment fund was set up by Noblelift Intelligent Equipment Co. Ltd (Noblelift) and two other investors.
'Joining forces to stay competitive'
"The agreement with Noblelift reflects our focus on growth and will position Savoye as one of the 20 largest intralogistics specialists in the world," Rémy Jeannin, president at Savoye, explains the move. "This move coincides with the wave of consolidation in recent years, in which many global logistics players have joined forces to remain competitive, offer the best technology and expand their global reach. At Savoy, we agree with this strategy: to grow faster in the long term, we need to broaden our reach. "
Savoye acts as technology hub
Noblelift Intelligent Equipment Co. Ltd is a joint-stock company listed on the Shanghai Stock Exchange. Founded two decades ago and growing rapidly, the two companies believe they are an excellent match both geographically and product-wise. Savoy is engaged in design and realisation of intralogistics solutions, with a focus on France and the rest of Europe. Noblelift designs, manufactures and distributes forklifts and other logistics solutions, mainly in Asia and Europe. Once the acquisition is complete, Savoye will act as a technology hub for the new company and become the driver for innovation and research.
No changes to organisational structure
The proposed sale has been approved by representatives of employees at Savoye. The company's current management team will stay on. There will be no changes to the organisational structure, jobs or structures at subsidiaries and production sites, the organisation said in a press statement. The deal will take effect once the buyer has obtained the necessary approvals from Chinese officials. The transaction is expected to be completed in the second half of 2018.
