10.12.2013

Fassi acquires Cranab

Italian loader crane manufacturer Fassi Gru has acquired a controlling interest in Swedish timber crane manufacturer Cranab, in partnership with three Swedish investment companies - Mittkapital, Ekonord and Inlandsinnovation - through their jointly held Z-Forestab fund. Full details of the equity split have not been revealed.

At the same time Cranab has acquired Bracke Forest AB, a manufacturer of forestry attachments including scarifiers, planting machines, silviculture and biomass heads, felling heads, and equipment for mechanised seeding.

Cranab was founded in 1963 by brothers Rune and Allan Jonsson and has its headquarters in Vindeln, near Umeå, 700km north of Stockholm. It has three manufacturing facilities in the area employs about 150, Bracke Forest has revenues of around SK350 million (€40 million) and employs around 50.
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A Cranab forestry loader crane

Fassi acquired French hook and skip-loader manufacturer Marrel in August as it continues its expansion into specialised loader related equipment in specific market sectors.

Chief executive Giovanni Fassi said: “We chose Cranab because of the specific technology it provides. The forestry sector is growing and will continue to do so in the future. For this reason we wanted to contribute to the foundation of one of the most important and diversified groups in the forestry sector in collaboration with highly specialised partners, and in a country with a vast technology applied to this context.”
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Cranab chief executive Fredrik Jonsson added: “With this agreement we are adopting a more global approach with our new wide range of machinery linked to the forestry sector, driven by a greater demand for equipment suitable for sustainable environmental exploitation.”