GAM buys Portuguese material handling business

Murray Pollok Managing Editor, IRN & Director of Content, KHL

06 August 2021

Spain’s GAM has acquired the material handling operations of Portuguese company Grupo Ascendum, including dealerships in Portugal for Hyster and Yale forklifts.

GAM has paid €4 million for the business, with 22 employees switching to GAM’s Portuguese subsidiary. The acquired business reported revenues of €4 million last year.

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