Sale of the ALTO Group to Nilfisk-Advance A/S
Plesner has assisted Incentive A/S in liquidation represented by liquidator Michael Ziegler with the sale of the ALTO Group. The ALTO Group, which manufactures high-pressure cleaners and cleaning machines, was sold on 3 May 2004 to Nilfisk-Advance A/S for DKK 900 million free from debt.
The purchase is conditional upon the approval of the competition authorities in a number of countries. The expected merger of Nilfisk-Advance and ALTO creates a global market leader with regard to machines for professional cleaning with, among other things, sale and service in 31 countries and own production in several countries. The sale, including the performance of an auction process involving a large number of interested buyers, was concluded in 1½ months.