Waiblingen, 3/31/2023 | Company press release
STIHL acquires garden technology specialist Mogatec
STIHL, a family-owned business, has acquired a majority stake of 75.1 percent in Mogatec GmbH, a specialist in advanced garden technology, making it the majority shareholder of the Saxony-based company headquartered in Drebach, Germany. STIHL plans to acquire the remaining Mogatec shares in stages over the next few years. This move is based on longstanding and close ties between the two companies. STIHL and Mogatec’s collaboration involves the engineering and production to order of individual power tools.
Dr. Nikolas Stihl, Chairman of the STIHL Advisory Board and Supervisory Board, emphasized: “We are delighted that Mogatec is now officially part of our family business after around 30 years of collaboration. By integrating an experienced specialist such as Mogatec, STIHL is expanding its development and production expertise as a producer of garden and power tools, especially in the growth market of cordless tools.” Martin Schwarz, STIHL Executive Board Member for Manufacturing and Materials, commented: “The addition of Mogatec’s employees to the STIHL family is the logical next step in our close partnership. With this move, we are strengthening the international STIHL production network and paving the way for further growth, including in Saxony. I look forward to STIHL and Mogatec continuing their shared journey.” Erik Jachmann, Mogatec shareholder, highlights: “There is a long-standing connection between the two companies and, associated with this, a great deal of trust. As an international market leader and family business, STIHL embodies values that align perfectly with ours. For Mogatec, this merger means being ideally positioned for the future.”
Strengthening the Saxony location in Drebach
Mogatec Managing Directors Tobias Wetzel and Alexander Gränitz say: “Our integration into the STIHL Group is the beginning of a new chapter in Mogatec’s more than 30-year success story. With a leading global company like STIHL at our side, we are sustainably strengthening our site in Drebach.” The STIHL family-owned company intends to continue Mogatec as an operationally independent company in the same way as before. Mogatec Managing Directors Tobias Wetzel and Alexander Gränitz will continue to jointly manage the Saxony-based company.
Mogatec GmbH is a specialist in advanced garden technology and was founded in 1992. Having started with a staff of 15, it now employs around 430 people at its headquarters in Drebach, Saxony, and produces components which are used in the manufacture of transmission, coupling, and cutting systems, as well as electric and cordless garden power tools. Mogatec generated revenue of around 100 million euros in 2021.
