Japanese crane manufacturer Tadano last month acquired 100 percent of the stock of Franklin, Tenn.-based Span Deck Inc., a leading manufacturer of hydraulic telescoping crawler cranes under the Mantis brand, for U.S. $37.5 million, including the assumption of $8.66 million of debt and interest, Tadano announced recently. The transaction was made through Tadano America Holdings, an entity formed for the acquisition, and separate from Tadano America Corp.
Tadano officials said the acquisition would support its strategy of diversification of its lifting equipment business.
SpanDeck had U.S. sales of $34 million in the 12 months ended Nov. 30, according to Tadano. It also has a factory in Richlands, Va.