PwC acted as exclusive financial advisor on the sale of ATLAS Group

The Deal

The PwC M&A team is pleased to announce the successful sale of ATLAS Group (“ATLAS”) to Buhler Versatile Inc., part of ASKO Holding.

ATLAS Group is a leading manufacturer of construction machinery, specializing in excavators and loading cranes. Headquartered in Ganderkesee near Delmenhorst, the ATLAS Group companies (excluding ATLAS Cranes UK Ltd.) initiated insolvency proceedings under self-administration in February 2026, driven by a sustained decline in sales volumes over recent years combined with a cost structure that was no longer aligned with market conditions. To support the restructuring and transformation process, restructuring experts Dr. Malte Köster and Dr. Hans-Joachim Berner of KÖSTERBERNER were appointed as Chief Representatives, while Hendrik Gittermann of REIMER was appointed by the local court as custodian. In parallel, a structured international investor process was launched and managed by PwC, with the objective of securing a sustainable solution for the business, its employees and stakeholders, and positioning the company for long-term success.

In a complex transaction and situation, the German PwC M&A team utilized its’ combined expertise in the construction industry and special situations to attract interest from international potential investors including strategic players in construction and agriculture machinery segment as well as financial investors. In a well-structured process, PwC managed to generate competition among investors and facilitated negotiations with multiple potential investors in parallel towards the end of the process to ensure transaction security. Buhler Versatile Inc. emerged as the most attractive investor resulting in the signing of asset & share purchase agreements on 11 June 2026, with closing on 30 September 2026. 

ATLAS Group

ATLAS is a German manufacturer of construction machinery headquartered in Ganderkesee, near Delmenhorst. The company develops and manufactures a broad range of heavy equipment, with a particular focus on wheeled and crawler excavators as well as loader cranes. Drawing on more than a century of engineering expertise, ATLAS has established a strong reputation for reliability, durability, and technical performance. Supported by a well-established dealer and service network, the company serves a diverse customer base across Germany and international markets, providing high-quality solutions for the construction, infrastructure, and material handling sectors.

KÖSTERBERNER & REIMER

KÖSTERBERNER is a leading German restructuring and insolvency law firm with a strong focus on insolvency administration, self-administration proceedings, and complex corporate restructurings. Combining legal excellence with a highly digitalized and process-driven approach, the firm supports companies, creditors, and stakeholders in navigating challenging transformation situations. With a multidisciplinary team of more than 100 professionals across 12 locations in Germany, KÖSTERBERNER is widely recognized as one of the country’s foremost advisors in restructuring and insolvency matters.

REIMER is one of Germany’s largest and most experienced law firms specializing in restructuring, turnaround situations, and insolvency administration. With more than 130 professionals and a network of 10 offices nationwide, the firm provides comprehensive legal and operational support in complex distressed and special situations. Its team has successfully managed numerous high-profile proceedings across a broad range of industries, making REIMER a trusted advisor in corporate restructuring and insolvency environments.

Buhler Versatile

Buhler Versatile Inc. is Canada’s only agricultural tractor manufacturer and a globally recognized provider of high-performance farming equipment. Headquartered in Winnipeg, Manitoba, the company designs, manufactures, and markets a comprehensive portfolio of agricultural machinery under its flagship Versatile brand, including high-horsepower articulated and four-wheel-drive tractors, precision seeding equipment, and tillage solutions. With a heritage dating back to 1966, when it pioneered the mass production of articulated four-wheel-drive tractors, Versatile has established a longstanding reputation for engineering excellence, reliability, and productivity in demanding agricultural applications. All equipment is manufactured at the company’s production facility in Winnipeg and distributed through a well-established international dealer and service network, serving customers across North America and key global agricultural markets.

PwC

The global PricewaterhouseCoopers network is a worldwide association of independent auditing and consulting companies which together employ more than 365,000 people in 136 countries. Our global network comprises over 2,200 M&A professionals all over the world, realising approx. 400 successful transactions per year. We specialise in a wide range of independent M&A services including advice on acquisitions and disposals, mergers, public takeovers, privatisations as well as structured financing.

The PwC M&A team included Timo Klees (Partner), Julius Karp (Senior Manager) and Jan Bich (Manager).