09.11.2023

Italian acquisitions for Manitou

French aerial lift and telehandler manufacturer Manitou is to acquire a 75 percent stake in two of its Italian suppliers - welding and machining company Come SRL and associated laser cutting and high strength steel bending company Metal Work. Both companies are majority owned by Fabio Grilli, other shareholders in Metal Work including Luca De Angelis, Paolo Piffanelli and Marco Grilli.
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Come was established more than 60 years ago and is based in Alfonsine - north of Ravenna - while Metal Work was set up in 2010 and is based in nearby Forli. Come had revenues of €46 million in 2022 and employs 280 while Metal Work had sales of €31 million with 70 employees.
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Between them the two companies provide higher volume fabrications such as chassis, superstructures/turntables and booms for the Manitou plant in Castelfranco, Italy which is the main production centre for the Manitou MRT 360 degree telehandlers. Both companies will continue to serve their existing customers in addition to supplying Manitou.
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Booms at the Come factory

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The company also produces Manitou chassis

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One of the machines in the Metal Work plant

Manitou Italia managing director Marco Iotti said: “We are proud of these alliances with Come and Metal Work, with whom we’ve already been working for over 20 years. We share the same sense of innovation, quality and industrial excellence. These acquisitions enable us to benefit from two key areas of expertise in the manufacture of our products, and to optimise our supply chain. We will of course continue to work and develop cooperation with all of our suppliers, which is necessary to absorb the very high demand for our products."
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At the conclusion of the deal (L-R) Luca De Angelis of Metal Work with Marco Iotti and Elisabeth Ausimour of Manitou, along with Fabio Grilli and Adriano Baruzzi of Come/Metal Work with Michel Denis of Manitou, Paolo Piffanelli and Marco Grilli of Metal Work

Come president and owner Fabio Grilli added: “Joining the Manitou group is a great honour for our companies. We have long shared the key values of customer focus and quality. This merger will take us to new levels in our development.

A little background

Manitou acquired the Italian facility in 2003 from its owners the Magni family, which included chief executive Riccardo Magni. After eight or nine years managing the business for Manitou, he left to set up his own company - Magni Telehandlers located across the road from Manitou. The rest as they say, is history.

Vertikal Comment

Manitou has been talking a great deal over the past year or so about securing its supply chain, following the challenges than many companies faced during the latter part of the pandemic and afterwards, so this is no great surprise.
What one cannot help wondering is whether Come also supplies Manitou's immediate neighbour Magni, which is now its main 360 degree telehandler competitor.