19.07.2022

Alimak acquires Tall Crane

Swedish, International hoist, mast climber and building maintenance platform manufacturer Alimak is to acquire Canadian crane and hoist rental company Tall Crane Equipment in an all-share purchase deal. Alimak will pay C$27 million in cash on a debt free basis. Plus, a possible further C$13 million based on the “fulfilment of certain performance goals regarding sales and profit.” Tall Crane had revenues last year of around C$16 million.

Based in Langley, British Columbia to the south east of Vancouver, Tall Crane Equipment was established by the late Jim Hickey in 1980, having spotted a need for proper training and professional operation in the Canadian hoist and crane industry. Today the company provides training, maintenance, repairs, parts and services, project planning as well as the installation and dismantling of tower cranes and construction hoists. It has been an Alimak customer for more than 30 years. The transaction is expected to close during the third quarter at which time Tall Crane will join Alimak’s Construction division.
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Tall Crane’s premises in Langley, BC

Alimak chief executive Ole Kristian Jødahl said: “I am pleased to welcome Tall Crane Equipment into the Alimak group. This acquisition reflects our strategic goal of being close to our customers in the markets they operate. We have known this company for many years, and the rental services business will provide a good foundation to expand our new and used product offerings. Including the addition of a wholly owned footprint in Canada, this acquisition creates opportunities to further expand both in construction and in permanent industrial equipment including our parts and services offerings.”

Tall Crane chief executive Tony Violette added: “We are excited about joining Alimak. The new ownership gives us the opportunity to continue to develop our business and increase our industry network.”