Manitex International, a provider of engineered lifting solutions including boom truck and rough-terrain cranes, rough-terrain forklifts and other products, has completed its previously announced acquisition of Valla, SpA of Piacenza, Italy. The acquisition closed on Nov. 30 for a total potential consideration of up to $1.2 million, principally based on an earn-out provision. The Valla acquisition is expected to be accretive to Manitex’ 2014 earnings.
“Valla has a well-established brand name in mobile, industrial cranes and we are excited to add another outstanding product line to broaden our crane portfolio,” said Andrew Rooke, Manitex president and chief operating officer. “This transaction … provides us with additional presence overseas. It also increases our product offering worldwide, which we believe will contribute nicely to our future growth as the global economies show more concrete signs of recovery.”
Valla, founded in 1945, has a full range of mobile cranes from 2 to 90 tons, using electric, diesel and hybrid power options.
Manitex is based in Bridgeview, Ill.