Skyjack Inc., a Linamar Co., last week announced that Volvo Construction Equipment has accepted Skyjack’s offer to pursue the parties’ discussions relating to the purchase of selected assets of Volvo’s Material Handling Equipment Business. Volvo recently acquired this business from Ingersoll-Rand as a part of an April 2007 Road Machinery acquisition.
Skyjack is interested in the Volvo Material Handling Equipment business as it complements the acquisition of Carelift Equipment completed in August of 2007. This acquisition would further expand Skyjack’s telehandler product offering, add a rough-terrain straight-mast fork lift product and provide additional manufacturing capacity to further the company’s growth potential.
”The addition of Volvo’s Material Handling Equipment business would provide products to complement our premium Zoom Boom telehandler brand,” said Linda Hasenfratz, Linamar Corp. CEO. “This will allow us to bring our products to a broader group of customers.”
Skyjack said it would anticipate moving the Volvo assets to Ontario to consolidate with its existing telehandler business.
The proposed transaction is subject to, among other things, the parties reaching a definitive agreement, and further due diligence.
Skyjack is headquartered in Guelph, Ontario.
