Kobelco to Take Control of CASE Construction in $1 Billion CNH Deal
The business behind CASE wheel loaders, skid steers, and excavators is set to change hands. Kobelco Construction Machinery agreed to buy a 70% stake in CNH Industrial’s construction equipment business, which includes CASE Construction, New Holland Construction, and Eurocomach.
- Business valuation
- $1 billion
- Kobelco stake
- 70%
- Expected close
- By end of 2027
What is Kobelco buying?
Kobelco will be the majority owner of a joint venture operating CNH’s construction equipment business. CNH expects $700 million in cash before customary adjustments and will retain a 30% stake. The $1 billion figure is the enterprise value of the entire construction business. Closing is subject to regulatory approvals and other customary conditions.
The construction portfolio includes excavators, wheel loaders, dozers, graders, compact track loaders, skid steers, and backhoes. CNH will retain Case IH, New Holland Agriculture, STEYR, and CNH Capital. CNH says its agriculture dealers will still have access to construction machines supplied by the joint venture.
What CASE owners should know about parts and service
CNH says the joint venture’s equipment will continue to receive service and support through the same channels. CNH Capital will continue to offer financing, leases, rental programs, and insurance to the venture’s customers and dealers. Kobelco separately says the announcement has no immediate effect on its own parts supply, warranties, or service contacts.
Will CASE equipment use Kobelco technology?
Kobelco highlighted its hydraulic excavators and K-DIVE remote operation technology in the announcement. It also said it intends to combine its construction technology with CNH’s satellite positioning capabilities. The companies did not identify specific CASE models that would use Kobelco technology or give a launch date for any jointly developed machine.
Official announcements
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