Malthus sells access sales division to Brubakken

Norway's Malthus is to sell its aerial platform sales division to Brubakken, a Norwegian forklift sales and rental company.

Malthus said the sale of its Malthus Lift & Maskin (MLM) division would allow it to focus on its portable accommodation business. MLM sales aerial platforms in Norway, Sweden and Estonia and represents brands including JLG, Omme, Hinowa, Multitel, Versalift and Ruthmann.

The division, which has eight sales locations and 29 employees, reported sales of NOK 158 million in 2011. Following the deal, which is expected to close on 1 June, Lars-Erik Jonsson, CEO of MLM, will continue to head the business and will join Brubakken's executive management group.

In its announcement, Malthus said that Brubakken wants to become a leading supplier of aerial platforms and service in the Nordic region.

The companies said; "Brubakken can offer Lift & Maskin a significant base of operations in Norway, ensuring Lift & Machine a unique market position, while the network that Lift & Machine already has in Sweden will pave the way for Brubakken's Nordic ambitions."

Brubakken's total sales, including the new division, will be more than NOK 550 million this year. It employs 120 people at 15 locations in Norway and Sweden. The company's largest shareholder is Reiten & Co Capital Partners.

Malthus is a major supplier of portable accommodation to the oil and gas sector. In recent years it has won major rental contracts in Norway, the UK and Canada.