Load King, manufacturer of specialized equipment and trailers, today announced its acquisition of Terex Corp.’s boom truck, crossover and truck crane product lines. The acquisition marks the latest milestone in the continued expansion of Load King’s manufacturing portfolio, which already encompasses cutting-edge water tank, dump body, roofing conveyor, mechanics body and trailer lines.
“I am delighted to announce this acquisition and its launch of boom truck, crossover and truck crane product lines under Load King’s brand,” said Fred Ross, CEO. “This announcement marks the latest chapter in a resurgence at Load King, which, since becoming a wholly-owned subsidiary of Custom Truck One Source in December of 2015, has proudly resumed a leading position in the industry. This is an important acquisition that expands our broad specialized truck and heavy equipment solutions offering.”
Load King plans to unveil new and enhanced crane configurations in the near future, the company said, among other developments and opportunities expected to accelerate the company’s continued growth. The company is currently transferring inventory and equipment for the acquired product lines to Load King’s growing campus in Kansas City, Mo. Terex will work closely with Load King to ensure a smooth transition and will continue to sell parts and offer support to boom truck, truck crane and crossover customers during an anticipated one-year transition period.
Load King has been producing first-class trailers and other heavy equipment since 1956. Included in the transaction are the assets and parts business associated with these product lines.
“This transaction completes one of the portfolio actions we announced in February,” said John Garrison, Terex Chairman and CEO. “We continue to implement our Focus, Simplify and Execute to Win strategy. By focusing on businesses where we have a strong market position, we can efficiently concentrate our improvement efforts to maximize value for our customers, team members and shareholders. We will work closely with Custom Truck One Source to ensure a smooth transition and will continue to sell parts to our boom truck, truck crane and crossover customers during an expected one-year transition period.
“After completion of this transaction with Load King and the sale of Demag Mobile Cranes to Tadano, Terex will remain in the rough terrain and tower crane businesses. We will fulfill global demand for rough terrain cranes from our Crespellano, Italy, facility, including the popular RT 100US and for tower cranes from our Fontanafredda, Italy, facility. Customers can be assured that we will continue to sell parts and provide support to rough terrain, tower crane, and other legacy crane products. We are investing in parts inventory and improving our operations to better serve these important customers.”