Consolidation continued in the aerial industry last week as Skyjack Inc. announced the signing of a share purchase agreement to acquire CareLift Equipment Limited, a telehandler manufacturer in Breslau, Ontario, Canada.
For Skyjack, Carelift is attractive because it complements its existing scissor and boomlift businesses. The acquisition makes Skyjack a more complete full-line supplier to the rental industry.
“The addition of CareLift’s telehandler business, along with the design and test abilities of the company opens up another large market for our Skyjack business,” said Linda Hasenfratz, CEO of Linamar Corp., Skyjack’s parent corporation. “The global telehandler market is worth $3 billion and growing. CareLift’s popular ZoomBoom brand is well positioned to increase market share by utilizing Skyjack’s well-established distribution network.”
CareLift’s rough terrain telehandler product has advanced reach and can reach heights from 32 to 56 feet.
The proposed transaction is subject to further due diligence, customary closing conditions and regulatory agency approvals.
Based in Guelph, Ontario, Skyjack has 36 manufacturing locations, five R&D centers, and nine sales offices in Canada, the United States, Mexico, Germany, Hungary, China, Korea and Japan.
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