Agco Corp. (NYSE:AGCO), a builder and distributor of tractors and other farm machinery, is acquiring Cimbria Holdings Ltd., which makes equipment for seed and grain handling.
Agco, based in Duluth, Georgia, will pay about $340 million to private equity firm Silverfleet Capital for the Thisted, Denmark-based company, and the deal is expected to close by Sept. 30. Silverfleet, based in London, purchased Cimbria in 2013. Cimbria then expanded into the Middle East markets and opened a new plant in the Czech Republic. About 15 percent of Silverfleet’s investors are from the U.S.