Alimak to acquire Tractel

By Lindsey Anderson02 August 2022

Alimak Group has entered into an agreement to acquire Tractel, a global provider of work at height products and safety systems, for $510 million in cash. 

Alimak Scando 650 An Alimak Scando 650. (Photo: Alimak)

Tractel, which was established more than 70 years ago, had full-year revenues of $205 million, a 7 percent increase year-over-year. The combined businesses will bring in total revenues of around will have revenues of around $591.5 million.

“This transformational acquisition underlines Alimak Group´s profitable growth strategy and ambition to expand our global market presence,” said Ole Kristian Jødahl, CEO Alimak Group. “We have followed Tractel for a long period and know that it is a growing and highly profitable quality company that shares our values. The combination offers significant commercial synergies and growth opportunities, including a substantially wider customer base, an expanded product portfolio and a strengthened global service organization. We are convinced that this transformational acquisition will create significant shareholder value over time via higher revenue growth and improved profitability.”

Funding for the acquisition will come from Svenska Handelsbanken via a long-term $306 million loan, which Alimak said will be repaid with the proceeds from a new share issue for Alimak shareholders. 

Tractel’s temporary access business, including its Scanclimber brand, will strengthen Alimak’s construction solutions portfolio as well its presence in both the wind sector and facade access, the company said. Both firms currently serve construction and rental customers.

Alimak Group said the combined group will offer both construction and rental customers a complete portfolio of solutions and a global service organization that will be able to assist customers globally by optimizing total cost of ownership.

Tractel has manufacturing facilities in Europe (France, Germany, Poland, Spain), the U.S. (Minneapolis, Houston), Canada (Toronto, Montreal), China (Shanghai), Singapore and Turkey. Under the deal, Tractel will remain operating under its existing brands and be listed as a new division within Alimak Group. 

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, International Rental Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
New Cat excavator ‘delivering on sustainability’
Cat 350 said to consume up to 13% less fuel than previous models 
EquipmentShare expands its US network
Colorado rental branch to partner with community organisations on apprenticeships
MBW appoints new COO
Jim Van Beek returns to company after a 15-year absence
CONNECT WITH THE TEAM
Murray Pollok Managing Editor Tel: +44(0)1505 850 043 E-mail: murray.pollok@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA