Alimak Group closes acquisition of Tall Crane
By Larry Stewart29 August 2022
Sweden-based access company Alimak Group completed the previously announced acquisition of Tall Crane Equipment LTD, a hoist and crane rental services provider headquartered in Langley, British Columbia, Canada.
Alimak’s initial announcement of the acquisition, dated July 18, 2022, said the “purchase price amounts to approximately MSEK 215 (million Swedish kronor, or 27 million Canadian dollars) on a cash and debt-free basis.”
Alimak has reported Tall Crane Equipment’s revenue in the last yearly closing at approximately MSEK 130 (MCAD 16) and will contribute positively to Alimak Group’s Construction division’s EBITA-margin.
Tall Crane Equipment is a licensed elevator contractor, providing hoist and crane rentals, qualified licensed personnel, and repairs and maintenance on site and off site. Personnel hoists have become a major focus for the company, which maintains hundreds of hoists across Western Canada. The company has been an Alimak Construction Division customer for over 30 years and will become part of Alimak Group’s Construction division.
“This acquisition reflects our strategic goal of being close to our customers in the markets they operate,” said Ole Kristian Jødahl, CEO, Alimak Group. “We have known this company (Tall Crane) for many years, and the rental services business will provide a good foundation to expand our new and used product offerings. Including the addition of a wholly owned footprint in Canada, this acquisition creates opportunities to further expand both in construction and in permanent Industrial equipment including our parts and services offerings.”
The business will be consolidated as of August 24, 2022.
About Alimak Group
Alimak Group provides vertical access solutions for professional use, listed on Nasdaq OMX Stockholm. Alimak’s products and solutions are sold under the brands Alimak, CoxGomyl, Manntech, Avanti and Alimak Service. The group has an installed base of around 70,000 elevators, hoists, platforms, service lifts and building maintenance units around the world. Founded in Sweden 1948, the group has its headquarters in Stockholm, 10 production and assembly facilities in eight countries and 2,100 employees around the world. With presence in more than 100 countries, the group develops, manufactures, sells and services vertical access solutions.