Terex Corp. has entered an agreement to acquire a controlling interest in Ritz do Brazil S.A., which produces equipment for the construction and maintenance of energized power lines up to 800 kV. The transaction will represent a growth opportunity for both Ritz and Terex, increasing the global presence of both companies in a growth product category, while strengthening Ritz’s access to parts distribution and aftermarket support.
With headquarters in Belo Horizonte and an industrial plant in Betim, Minas Gerais, the Ritz product line includes truck-mounted single aerial devices and a range of tools and solutions for work on energized power lines.
“Ritz has been in business since 1960 and is a trusted name in the industry,” said Garry White, vice president and general manager of Terex Utilities. “The acquisition is a natural extension of the Terex Utilities business and represents exciting growth opportunities for both companies. We will continue on the successful path Ritz has taken, searching for synergies and growing the business through product technology transfer and investment in lean production.”
“This is a further demonstration of the Terex commitment to growth in the Latin American region,” added Jacob Thomas, president of Terex Latin America. “We are very excited about the growth in our customer base, channel partners, product portfolio, and manufacturing footprint that will result from this acquisition.”
Ritz serves Brazil’s largest electrical utility companies and exports equipment to about 60 countries.
“With the union of both companies, we shall extend our strength and competitiveness in the market. We shall benefit from the expertise and experience of one of the largest global producers of construction and infrastructure equipment and machines.”