Linde AG, said Monday that it has sold its forklift division, KION Group, to financial investors Kohlberg Kravis Roberts & Co. (KKR) and Goldman Sachs Capital Partners for $5 billion.
The $5 billion price includes $4.5 billion net equity value plus $500 million of net financial liabilities assumed.
The KION Group was established by Linde as a new company for its three forklift truck and industrial equipment brands: Linde, STILL and OM. It has over 20,000 employees and had sales of approximately $4.5 billion in 2005.