Stockholm, October 4, 2023 – DEUTZ AG has acquired full ownership of the Diesel Motor Nordic Group (DMN) with effect from October 2, 2023. The contracts were signed at the end of July of this year.
Founded in 1956, the Diesel Motor Nordic Group sells and maintains engines for industrial applications. It has a presence in Sweden, Denmark, and Finland and grown dynamically in recent years. DEUTZ’s acquisition of its long-standing partner is the next step in simplifying shared processes and expediting the expansion of the Scandinavian business.
“The acquisition of the Diesel Motor Nordic Group represents another milestone in our transformation from traditional engine manufacturer to provider of on-highway and off-highway solutions. In the future, we aim to be more than a manufacturer of drive systems; we want to focus even more on keeping them moving. Servicing our engines, and increasingly those of our competitors, will be part of this. The acquisition of DMN puts us in a much stronger position to expand our activities in Scandinavia,” says DEUTZ CEO Dr. Sebastian C. Schulte.
“During the 13 years that we have owned Diesel Motor Nordic, the management and employees have continuously worked to develop the business into the excellent company it is today. For Diesel Motor Nordics future development, it is however a natural step that Deutz now assumes responsibility. I am convinced that DMN together will Deutz will secure the company’s continued success,” says J2L Holdings CEO Johan Lindh.
The global expansion of the service and parts business is one of three key elements of DEUTZ’s Dual+ strategy. Under this strategy, the Company intends to improve the performance of the current business in classic engines and significantly expand the existing service business, using this as the basis to further develop the innovative technology portfolio.
About J2L Holding AB
J2L Holding AB is a family-owned investment company focused on developing small to medium sized B2B companies. The group has a turnover of approximately SEK 2 billion and have 350 employees.
About DEUTZ AG
DEUTZ AG, a publicly traded company headquartered in Cologne, Germany, is one of the world’s leading manufacturers of innovative drive systems. Its core competencies are the development, production, distribution, and servicing of drive solutions in the power range up to 620 kW for off-highway applications. The current portfolio extends from diesel, gas, and hydrogen engines to hybrid and all-electric drives. DEUTZ drives are used in a wide range of applications including construction equipment, agricultural machinery, material handling equipment such as forklift trucks and lifting platforms, commercial vehicles, rail vehicles, and boats used for private or commercial purposes. DEUTZ has around 5,000 employees worldwide and almost 900 sales and service partners in more than 130 countries. It generated revenue of more than €1.9 billion in 2022. Further information is available at www.deutz.com.