Manitex International, an international provider of cranes and specialized material and container handling equipment posted a 9.3 percent second quarter revenue increase to $68.4 million compared to $62.6 million for the second quarter last year. Second quarter EBITDA of $6.3 million or 9.2 percent of sales increased 14.2 percent compared to $5.5 million and 8.8 percent of sales in the year-ago period.
“We continued to grow our revenues to new highs with solid bottom line net income while EBITDA margins were in line with our historic levels,” said chairman and CEO David Langevin. “The strategic direction we’ve taken to expand our product portfolio and diversify our revenue sources through in-house development and acquisitions continues to serve us well. We saw gradual improvement in demand from Europe produce improved order intake and product sales.”
During the quarter, Manitex agreed to acquire PM Group S.P.A., a leading Italian manufacturer of truck-mounted hydraulic knuckle boom cranes with trailing 12-month revenues through June 2014 of about $106 million.
Manitex is headquartered in Bridgeview, Ill.