Kinshofer acquires Mozelt Magnet Systems

• Kinshofer Group has acquired 100% of Mozelt GmbH, enhancing its portfolio in material handling attachments and tools.

• Mozelt, established in 1969, specializes in generators and magnet systems for scrap metal handling and demolition.

• The acquisition strengthens Kinshofer’s distribution channels in markets where Mozelt is strong and supports a global leadership strategy.

• Mozelt’s entire workforce remains, with a new CEO appointed, and both companies are working on rapid integration to expand product offerings and innovation.

Kinshofer Group from Germany and the in Germany based company Mozelt GmbH announced today that they have signed a definite agreement to merge. Under the terms of the agreement Kinshofer has acquired 100% of shareholding of Mozelt.

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For over 55 years, Kinshofer has been a leading manufacturer of tools for truck mounted and tower cranes, excavators and material handlers as well as skid steer loaders, consistently developing its product range in both, the crane and excavator markets to become a competent and reliable partner for OEM’s and OED’s. Previous acquisitions of Liftall Inc. (Canada), Demarec B.V. (Holland), RF System AB (Sweden), Auger Torque Group (UK/Australia/ China), Solesbee´s LLC (USA.), the Doherty Group (New Zealand/ Australia), Hammer Srl. (Italy), Cangini Benne Srl. (Italy), Trevi Benne SpA (Italy), Prolec Ltd. (UK), HGT (Germany), GMT (Holland), Eurosteel (Holland) as well as Boscaro Srl. (Italy) were other important milestones of this development.

The acquisition of Mozelt is significant for Kinshofer in two ways; first, it strengthens Kinshofer’s portfolio of material handling attachments and tools and second, it improves Kinshofer’s distribution channels in markets Mozelt is strong. With this move, Kinshofer further demonstrates its commitment to being a global leader in attachments to the crane and excavator industry.

Mozelt, a 1969 established business, puts its focus on the development and marketing of generators and magnet systems for scrap metal handling and demolition.

Mozelt’s industry success is based on high-quality solutions and customer satisfaction as well as the team’s

57 years of accumulated knowledge. With an extremely committed and well-educated workforce, Mozelt will continue to develop and sell its products globally through its distribution channels, but also other Kinshofer Group companies will add Mozelt product to their range.

Thomas Friedrich, President & CEO of Kinshofer Group, said: “Kinshofer continues its strategy to provide the industry with a ‘One-Stop-Shop’ solution of outstandingly engineered products to increase efficiency and, more importantly, profitability for its customers. The acquisition of Mozelt was the next step in our approach to be a global industry leader with solid local presence”.

The previous owner, Mona Prüfert-Rheindorf, will leave the business. Rudi Knäpper, the longstanding Director of Sales, will become the new CEO of Mozelt. He commented: “The concentration of knowledge and competence will form a powerful centre for future developments customers can only benefit from. The combination of both product ranges will create more ground-breaking innovations for the industry. The whole Mozelt team, which will stay on in its entirety, is very excited to be part of this mutual future.”

Kinshofer’s and Mozelt´s employees are working on the rapid integration to provide customers worldwide with their comprehensive range of products and services.