21 September 2016, 13:16
Alimak Hek Group, the global vertical access solution company, announces that it has entered into an agreement to divest its US Rental business with base in Atlanta, US, to Bigge Crane and Rigging
Alimak Hek operates a small rental business in the US, whose origins predate the merger between Alimak and Hek in 1999. The US Rental business has been operated as a separate unit within the Alimak Hek US operation. The divestment will allow a stronger focus on product sales as well as after sales services supporting Alimak Hek´s entire product portfolio in the US and Canada.
“The divestment is a logical step in Alimak Hek Group´s strategy of growth in its core business as it allows our US operation to fully focus on further expansion of our broad offering of products and aftersales services in North America. Bigge is one of America´s premier global crane companies and has been a long and valuable customer to Alimak Hek. They have a vast experience of working with Alimak Hek equipment and I feel confident that our existing rental customers will see benefits from the new owner” says Tormod Gunleiksrud, CEO of Alimak Hek Group.
“Bigge is pleased to add Alimak Hek’s US Rental business to our operation. Bigge has an extensive network of locations and expertise in rental of construction hoist and related equipment, and this addition is consistent and synergistic with our core business. Bigge has had a long term relationship with Alimak Hek, and Alimak Hek product is central to Bigge’s existing fleet of construction hoist and related equipment,” says Weston Settlemier, CEO of Bigge Crane and Rigging Co.
The US Rental business had in 2015 a revenue corresponding to approximately 1% of the Group´s total revenue. For business area Rental the corresponding figure was 9%. The purchase price amounts to USD 2.4 million.
Alimak Hek Group´s Rental business area provides rental services on Alimak Hek´s construction hoists and platforms to customers in four key markets: France, Benelux, Germany and Australia as well as offers sales of Alimak Hek´s used construction equipment.
The divestment will be subject to customary regulatory approvals and is expected to close before year end 2016.
Source: Alimak Group Sweden AB