The earth moving equipment industry in DACH refers to the machinery used in construction, earthworks, and infrastructure projects. Companies in this industry manufacture a wide range of equipment, including excavators, loaders, and bulldozers, essential for various projects. Innovative technology, such as automation and electrification, plays a significant role in reshaping this industry, enhancing efficiency and sustainability. Growth in construction demand and increased investment in transport and infrastructure projects point toward a robust future. Interestingly, many firms are also focusing on reducing carbon footprints, signaling industry-wide concern for environmental impact in their operations and products.


In the DACH region, a mix of corporate and private equity investors drive transactions in the earth moving equipment sector. Based mostly in Germany and Switzerland, these investors range in size from small firms to large corporations, with several having been established for decades. Notably, 2024 saw varying deal activity as some firms, like Holcim and Heidelberg Materials, made significant moves to secure their foothold in the market, while others, like Linamar Europe, opted for restrained investments this year. Overall, these strategic decisions highlight the dynamic investment environment in this crucial industry.


Top 13 Earth Moving Equipment Investors in DACH


1. Holcim

  • Website: holcim.com
  • Type: Corporate
  • Headquarters: Zug, Zug, Switzerland
  • Founded year: 1912
  • Headcount: 10001+
  • Number of deals in 2024: 12
  • LinkedIn: lafargeholcim

Holcim is a leading building materials manufacturer based in Zug, Switzerland, specializing in innovative and sustainable construction solutions. Founded in 1912, the company has grown to employ over 10,000 people and is committed to decarbonizing building practices and promoting circular construction. Holcim's product offerings include cement, aggregates, and ready-mix concrete, catering primarily to construction companies and architects. In recent years, Holcim has made strategic acquisitions to enhance its capabilities in the construction sector. Notably, they acquired Teko Mining, a major independent aggregates company in Serbia, which operates four quarries and sells 2.4 million tons of aggregates annually. This acquisition aligns with Holcim's strategy to strengthen its presence in key markets and support sustainable building practices. Additionally, their acquisition of Wiltshire Heavy Building Materials, which specializes in recycling construction and demolition waste into aggregates and concrete, further emphasizes their commitment to circular construction. These transactions highlight Holcim's active role in the construction materials supply chain, which is closely linked to the earth moving equipment industry.


2. Linamar Europe

  • Website: linamar.com
  • Type: Corporate
  • Headquarters: Plettenberg, North Rhine-Westphalia, Germany
  • Founded year: 1966
  • Headcount: 1001-5000
  • LinkedIn: linamar-europe

Linamar Europe is a corporate investor based in Plettenberg, North Rhine-Westphalia, Germany, specializing in advanced manufacturing. Founded in 1966, Linamar has established a global presence with a focus on precision-engineered components and systems for various industries, including automotive, agricultural, and medical devices. Notably, Linamar has made significant acquisitions that enhance its capabilities in sectors related to earth moving equipment. In 2002, Linamar acquired Skyjack, a company recognized for its aerial work platforms, which are essential in construction and earth moving operations. More recently, in 2022, Linamar announced the acquisition of Salford Group, and in 2023, it acquired Bourgault Industries, both of which enhance its agricultural equipment portfolio. These transactions reflect Linamar's strategy to diversify and strengthen its position in industries that intersect with earth moving equipment, particularly in agricultural applications.


3. Heidelberg Materials


Heidelberg Materials, founded in 1873 and based in Heidelberg, Baden-Württemberg, Germany, is a leading building materials manufacturer specializing in cement, aggregates, ready-mixed concrete, and asphalt. The company plays a crucial role in serving construction and infrastructure development customers by providing reliable and sustainable materials. In 2023, Heidelberg Materials expanded its portfolio by acquiring the aggregate assets of Bach & Co. in New York, which includes a sand and gravel site, enhancing their capabilities in the aggregates market. Additionally, their acquisition of The SEFA Group Inc. further demonstrates their commitment to optimizing their operations in core markets. These transactions highlight Heidelberg Materials' strategic focus on materials that are integral to earth moving and construction activities, reinforcing their relevance in the earth moving equipment context.


4. Palfinger Ag

  • Website: palfinger.com
  • Type: Corporate
  • Headquarters: Bergheim, North Rhine-Westphalia, Germany
  • Founded year: 1932
  • Headcount: 10001+
  • LinkedIn: palfinger

Palfinger AG is a corporate investor based in Bergheim, North Rhine-Westphalia, Germany, founded in 1932. The company specializes in manufacturing cranes and lifting equipment, providing a diverse range of products including knuckle boom cranes, service cranes, and marine equipment. Their offerings are primarily targeted at businesses in the construction, mining, and municipal sectors, enhancing operational efficiency and safety in heavy lifting applications. Notable transactions include the acquisition of Ratcliff-Palfinger, a leader in the UK tail lift market, and Bergen Group Dreggen, which further solidified their presence in the heavy lifting domain. These strategic acquisitions reflect Palfinger's commitment to expanding its product range and capabilities in sectors closely related to earth moving equipment.


5. Paragon Partners

  • Website: paragon.de
  • Type: Private Equity
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 2004
  • Headcount: 11-50
  • Number of deals in 2024: 2
  • LinkedIn: paragon-partners_2

Paragon Partners GmbH is a Munich-based private equity investment firm founded in 2004, specializing in private equity investments in established medium-sized enterprises. They provide capital and strategic support to enhance business operations and foster growth, catering to institutional investors seeking sustainable investment opportunities. Notably, Paragon Partners acquired KINSHOFER in 2005, a company known for its innovative attachments for construction and earth moving equipment, which aligns with their investment strategy in the industrial sector. Additionally, they have made several other acquisitions, such as Condecta AG and elero, which, while not directly related to earth moving equipment, demonstrate their active role in the industrial services and manufacturing sectors.


6. Stabilus

  • Website: stabilus.com
  • Type: Corporate
  • Headquarters: Koblenz, Rhineland-Palatinate, Germany
  • Founded year: 1962
  • Headcount: 5001-10000
  • Number of deals in 2024: 1
  • LinkedIn: stabilus

Stabilus is a corporate investor based in Koblenz, Rhineland-Palatinate, Germany, specializing in the manufacturing of gas springs, dampers, and electromechanical drives. Founded in 1962, the company serves a variety of industries, including automotive and healthcare, providing solutions that enhance motion control and safety in products. In recent years, Stabilus has made significant acquisitions to bolster its position in the industrial sector. Notably, they acquired DESTACO from Dover Corporation for $680 million, aiming to expand their industrial automation business. Additionally, their acquisition of ACE Controls Inc. enhances their product portfolio in motion control and damping solutions. These transactions reflect Stabilus's commitment to strengthening its industrial capabilities, which can be relevant to the earth moving equipment sector, as their products can be utilized in such machinery.


7. Hannover Finanz

  • Website: hannoverfinanz.de
  • Type: Private Equity
  • Headquarters: Hanover, Lower Saxony, Germany
  • Founded year: 1979
  • Headcount: 11-50
  • Number of deals in 2024: 2
  • LinkedIn: hannoverfinanz

Hannover Finanz is a private equity firm based in Hanover, Lower Saxony, Germany, founded in 1979. The firm specializes in providing equity capital to medium-sized family businesses in Germany, Austria, and Switzerland, focusing on sustainable growth through strategic investments and consulting services. Notably, Hannover Finanz has been involved in several significant transactions, including the acquisition of Teupen Maschinenbau GmbH in 2012, a company known for its earth moving equipment. Additionally, they acquired WIDOS Wilhelm Dommer Söhne GmbH in 2017 and VEMAG Maschinenbau GmbH in 1990, both of which contribute to their portfolio in the machinery sector. Their recent investment in PEAK Technology GmbH further demonstrates their active role in supporting growth in various industries, including those related to machinery and equipment.


8. JOST World

  • Website: jost-world.com
  • Type: Corporate
  • Headquarters: Neu-Isenburg, Hesse, Germany
  • Founded year: 1952
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: jost-world

JOST World, officially known as JOST Werke SE, is a corporate investor based in Neu-Isenburg, Hesse, Germany, specializing in systems, modules, and components for commercial vehicles, including trucks and trailers. Founded in 1952, the company operates under well-known brands such as JOST, ROCKINGER, and TRIDEC, emphasizing innovation and customer service. In recent years, JOST has made significant acquisitions to expand its market reach and product offerings. Notably, in August 2023, JOST acquired Crenlo do Brasil and LH Lift for EUR 56 million, which is expected to enhance their portfolio in the agricultural machinery sector, potentially including earth moving applications. Additionally, their acquisition of the Hyva Group in October 2024 aims to strengthen their global positioning in the commercial vehicle industry, further indicating their strategic interest in sectors related to heavy machinery. These transactions highlight JOST's commitment to expanding its influence in industries that intersect with earth moving equipment.


9. Deutz Ag

  • Website: deutz.com
  • Type: Corporate
  • Headquarters: Herten, North Rhine-Westphalia, Germany
  • Founded year: 1864
  • Headcount: 1001-5000
  • Number of deals in 2024: 4
  • LinkedIn: deutzofficial

DEUTZ AG is an engine manufacturer specializing in advanced drive systems and engine technology, founded in 1864 and based in Herten, North Rhine-Westphalia, Germany. The company offers a range of products including diesel, hydrogen, and electric engines, as well as spare parts and maintenance services. Its customers primarily include businesses in agriculture, construction, and transportation, who rely on DEUTZ's solutions for efficient and reliable engine performance. In recent years, Deutz AG has made strategic acquisitions to enhance its service network and market presence. Notably, the acquisition of DPS Power Group in 2019 aimed to strengthen their sales and service capabilities in Belgium and the Netherlands, particularly targeting the off-road sector, which is closely related to earth moving equipment. Additionally, the establishment of Deutz Service Center Barcelona in 2017 expanded their service offerings in Spain, further supporting their commitment to the construction industry. These transactions highlight Deutz AG's active role in the earth moving equipment sector.


10. Momenta

  • Website: momenta.one
  • Type: Venture Capital
  • Headquarters: Engelberg, Obwalden, Switzerland
  • Founded year: 2012
  • Headcount: 11-50
  • Number of deals in 2024: 7
  • LinkedIn: momentapartners

Momenta is a venture capital firm based in Engelberg, Obwalden, Switzerland, founded in 2012. The firm specializes in industrial impact and digital transformation, providing strategic investments and advisory services to Fortune 500 companies and innovative startups across various sectors, including energy, manufacturing, smart spaces, and supply chain. In 2023, Momenta led a $22.5 million Series A funding round for Agtonomy, a company focused on advanced autonomous and AI solutions for agriculture, which has implications for earth moving equipment through automation technologies. Additionally, their partnership with Doosan Bobcat North America in this transaction highlights their engagement with the earth moving equipment industry. Momenta's investment strategy emphasizes enhancing operational efficiency and driving sustainability, aligning with trends in the earth moving sector.


11. Deutsche Private Equity (DPE)


Deutsche Private Equity (DPE) is a private equity firm based in Munich, Bavaria, Germany, founded in 2007. The firm specializes in providing growth capital to medium-sized enterprises primarily in Germany, Austria, and Switzerland. DPE focuses on fostering growth and creating sustainable corporate values for its portfolio companies, supporting them in expanding operations and achieving long-term success. Notably, DPE has made significant investments in the construction sector, including the acquisition of B plus L Infra Log GmbH, which operates in construction site services and manages around 1,000 active projects. This involvement suggests a direct link to the earth moving equipment industry, as construction site services often require such equipment. Additionally, DPE has acquired companies like Terwa and Bücker & Essing, further indicating its active role in sectors that may intersect with earth moving equipment needs.


12. MAN Truck & Bus SE


MAN Truck & Bus SE, based in Munich, Bavaria, Germany, is a leading commercial vehicle manufacturer specializing in trucks, buses, and vans. Founded in 1758, the company has a workforce of over 10,000 employees and provides a range of services including maintenance, repair, and digital fleet management solutions. Their customer base primarily consists of businesses and organizations in logistics, transportation, and construction, which rely on MAN's vehicles to enhance operational efficiency. Notably, MAN has made strategic investments such as acquiring a 25% stake in Sinotruk, a Chinese OEM, which positions them within the earth moving equipment market. Additionally, their acquisition of VW Truck & Bus from Volkswagen AG for approximately $1.53 billion has strengthened their presence in the commercial vehicle sector, particularly in Brazil, where they can leverage combined revenues to enhance their market position. Furthermore, their investment in Fr8 Revolution, a logistics technology company, showcases their commitment to innovation in transportation solutions, further linking them to the earth moving equipment industry.


13. b2venture

  • Website: b2venture.vc
  • Type: Venture Capital
  • Headquarters: St. Gallen, St. Gallen, Switzerland
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 15
  • LinkedIn: btovpartners

b2venture is a venture capital firm based in St. Gallen, Switzerland, founded in 2000. The firm specializes in early-stage investments in innovative startups across various sectors, providing financial backing and support to entrepreneurs. They collaborate with a community of angel investors, enhancing their investment strategy and positioning them as a key player in the European venture capital landscape. Notably, b2venture has been involved in transactions such as Equippo.com, which focuses on the construction and rental industries, indicating their engagement with sectors that utilize earth moving equipment. Their investment in Equippo aims to expand its market presence in Europe and develop software products for construction companies, further linking them to the earth moving equipment industry. Additionally, their involvement in other industrial technology firms like Sensolus showcases their interest in sectors that may intersect with construction and equipment management.



Earth Moving Equipment Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
HolcimZug, Zug, Switzerland10001+191212
Linamar EuropePlettenberg, North Rhine-Westphalia, Germany1001-500019660
Heidelberg MaterialsHeidelberg, Baden-Württemberg, Germany10001+18734
Palfinger AgBergheim, North Rhine-Westphalia, Germany10001+19320
Paragon PartnersMunich, Bavaria, Germany11-5020042
StabilusKoblenz, Rhineland-Palatinate, Germany5001-1000019621
Hannover FinanzHanover, Lower Saxony, Germany11-5019792
JOST WorldNeu-Isenburg, Hesse, Germany1001-500019521
Deutz AgHerten, North Rhine-Westphalia, Germany1001-500018644
MomentaEngelberg, Obwalden, Switzerland11-5020127
Deutsche Private Equity (DPE)Munich, Bavaria, Germany51-20020072
MAN Truck & Bus SEMunich, Bavaria, Germany10001+17580
b2ventureSt. Gallen, St. Gallen, Switzerland11-50200015


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