Altrad completes Sparrows acquisition
By Belinda Smart12 July 2022
Industrial services specialist Altrad, has completed the acquisition of international crane and engineering maintenance specialist Sparrows Group, which services the offshore energy, renewables and industrial sectors.
The acquisition, announced earlier this year and concluded on 11 July, includes Sparrows’ wind energy business Alpha.
A statement from Altrad said the move will strengthen its service offering and further diversify its presence across multiple sectors, particularly in the high-growth renewables market.
France headquartered Altrad operates in 50 countries across Africa, Asia, Australasia and Europe, and includes rental companies and distributors among its key customers.
Sparrows operates across the Americas, UK and Europe, Africa, Middle East, Caspian, India, Asia Pacific and Australia; its market presence complemented Altrad’s own “extensive international footprint,” the statement added.
Meanwhile, as part of the wider Altrad Group, Sparrows will draw on Altrad’s networks “to deliver additional services across more geographical locations.”
Ran Oren, Altrad’s Co-CEO welcomed Sparrows’ 2,000 strong team into the Group.
“As the world’s leading lifting and handling specialist, its level of technical expertise and experience is an extremely valuable addition to our capability.
“We are committed to investing in Sparrows to support its continued growth so together we can play our part in supporting industry to ensure safety and transition towards a more sustainable future.”
Over the last 12 months, Altrad has completed a number of acquisitions, adding over €1.4 billion to its turnover worldwide.