Case New Holland (CNH) has finalised the sale of its agricultural plough business Överum to a German investment company, FairCap.

The deal includes the brand’s Swedish factory, with 70 employees, as well as all intellectual property and inventory.

The reason cited by New Holland for the sale is so that it can fully focus its R&D, manufacturing and commercial sales efforts on its core product lines.

Överum has been a sub brand of Kongskilde for a number of years, the latter which was acquired by CNH in 2017 in line with CNH’s leadership strategy at the time to make New Holland a full liner.

Prior to its partnership with Kongskilde, Överum had been a well-established Swedish brand in its own right.

According to the new owners, the Överum name is set to return and now become Överum AB.

Our experienced team will support Överum during this complex carve-out transition period and in achieving its long-term growth plans. Together with the highly skilled workforce of Överum, we are committed to making Överum stronger

FairCap is an entrepreneurial private equity company with no experience in the machinery industry.

It claims to specialise in acquiring small- and medium-sized companies with the vision to transform them into sustainable businesses.

Unlike other traditional financial investors, FairCap says its approach is not aimed at generating short-term financial returns but instead its aim is to build a sustainable business.

For now, there is no official word regarding the logistics of how the new owner intends to reach the market and the faith of the other cultivation equipment under the Kongskilde brand.