Crane company hoists growth prospects after being acquired

A Midlands industrial crane company has been acquired by a pan-European investment fund in a deal part advised out of Birmingham.

Founded in the 1960s, Gloucestershire-based Gantrail International designs and installs crane rails in all industrial and commercial applications.

The firm has been acquired by Gantrex Group, which is owned by investment fund Argos-Soditic and headquartered in Nivelles in Belgium.

Gantrex is a global market leader in the production, distribution, installation and maintenance of high quality crane rail solutions.

The acquisition is said to mark an important step in the strategic development and growth of Gantrex, fortifying its position in the global market for industrial crane rail systems.

HF Holding, the holding company encompassing the Gantrex Group, has signed a Share Purchase Agreement in which it has acquired 100% of the shares of Gantrail in an all-cash deal for an undisclosed amount.

The two businesses will be merged into one holding company, with the combined board of directors and the executive committee aiming to fortify the group’s position in the market of industrial crane rail sector and create substantial value in the long run.

The transaction is considered as an important step in the Gantrex plan to grow group revenue by €100m by 2020 and improve EBITDA profitability by 12%.

The aim is to grow the top and bottom lines of both companies, both individually and combined.

Malcolm Trigg, managing director of Gantrail, will remain with the business.

He said: “Gantrail has a long and proud reputation as a driving force in the development of crane rail solutions worldwide. Continually focused on technical excellence and product performance, we have striven for over 50 years to offer an unparalleled level of technical and service performance to consultants, contractors and clients on major projects worldwide.

“With an exciting vision and road-map for innovation ahead, this union brings together what I consider to be the strongest technical forces in the market and I am extremely optimistic about the opportunities that this will deliver for our customers around the globe.”

The Birmingham-based Transaction Services team at BDO provided financial/tax due diligence to Gantrex in connection with the acquisition.