Danish crane and access rental company BMS and Norway’s Stangeland are expanding their Joint venture, BMS Stangeland, with the acquisition of Finnish heavy lift company Havator in an all share purchase deal, from current owner CapMan Buyout which has owned a majority stake in the company since 2010.
Under CapMan's ownership the business has grown substantially, most through acquisitions to the point where it had revenues last year in the region of €100 million with almost 500 employees spread over 30 locations. Havator will continue to operate as a standalone company as part of BMS Strangeland.
Although under new ownership, Havator will continue to operate under under its own name
Stangeland and BMS established BMS Stangeland in 2021, when BMS sold Kranringen to Stangeland’s subsidiary Crane Norway Group, in exchange for a 50 percent stake in the crane business. Going forward the joint venture will hold the BMS and Strangeland shares in both Crane Norway and Havator.
BMS chief executive Jens Enggaard said: “We have been following Havator closely for several years. So, we are very happy that the time was now ripe to join forces. We found Havator to be a company with good values and a very loyal and competent workforce. That’s why we’re looking forward to welcoming Havator’s employees into our crane family. It also creates a really strong crane group operating in Norway, Sweden and Finland, which will also work closely with BMS in Denmark and with BMS Heavy Cranes.”
Jens Enggaard Havator chief executive Hannu Leinonen added: “A Nordic consolidation is something our industry has been expecting. The new set-up will allow Havator to leverage an even stronger and broader service offering to its clients and also offer more uniform services to clients operating on a Nordic scale. Joining a pan-Nordic company will also offer our personnel an even more international outlook towards the future, combined with growing opportunities to develop competencies and careers. I am also pleased that our new owner is a true industrial player.”
CapMan Buyout partner Anders Björkell said: “I want to thank the leadership and personnel at Havator for the excellent cooperation throughout the years. I am glad the company’s new owners provide such an excellent strategic fit and believe them to enable exciting growth opportunities.”
Havator was founded in Finland in 1956 and now operates mostly in Finland and Sweden, as well as the Baltic states. It sold its access business to Ramirent in 2010.
BMS was established in Denmark in 1953 and runs a day to day crane rental operation in Denmark, Norway and Sweden, with revenues in the region of €450 million with more than 1,000 employees.
Stangeland was founded in Norway in 1959 as an infrastructure and construction company and operates primarily in the western part of Norway. Today the group owns a number of construction companies as well as its 50 percent stake in Crane Norway Group. The company is owned by Tommy and Olav Stangeland, and has around 1,300 employees with revenues of around €225 million.
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