Dutch engineered and heavy lifting firm, Mammoet has signed an agreement to acquire Stafford-based ALE.<\/p>\n
Both companies are specialists in engineered heavy lifting and transport for sectors such as the petrochemical industry, renewable energy, power generation, civil construction and the offshore industry.<\/p>\n
\u201cMammoet and ALE complement each other in geographical presence on all continents,\u201d said Paul van Gelder, CEO of Mammoet.<\/p>\n
\u201cTogether, we have a well-balanced portfolio of activities worldwide. This enables us to improve our service proposition and create synergies, as we are able to mobilise equipment and personnel swiftly anywhere. Last but not least, Mammoet and ALE both have a strong legacy in innovations which, once combined, will enable us to grow as a technologically leading player.\u201d<\/p>\n
PwC Corporate Finance acted as lead adviser to the Harries family and ALE Group.<\/p>\n
Mark Harries, Group Managing Director of ALE, which was established in 1983, said Mammoet and ALE shared a strong ambition to be leading in the engineered heavy lifting and transport sector.<\/p>\n
\u201cBoth companies have a strong track record and are renowned for their craftsmanship, innovations and fleet of equipment,\u201d he said.<\/p>\n
\u201cWe have both shaped the profession of heavy lifting and transport through numerous innovations in the past decades. The prospect of the two companies joining forces is very exciting.\u201d<\/p>\n
The closing of the transaction is subject to approval of the relevant competition authorities. Until that time, Mammoet and ALE will continue to operate strictly independently.<\/p>\n
PwC also provided commercial, financial and tax due diligence in connection with the deal together with tax structuring advice to the shareholders. Eversheds Sutherland provided legal advice for the shareholders.<\/p>\n
Matt Waddell, Partner at PwC said the deal was an iconic transaction for the Midlands.<\/p>\n
\u201cThe evolution of the business over the last decade to become a truly international operator with branches in over 40 countries worldwide combined with world record breaking innovations is a fantastic success story for a privately owned business,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Deal “an iconic transaction for the Midlands”<\/p>\n","protected":false},"author":237924,"featured_media":2032272,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"coauthors":[62334],"class_list":["post-2032270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","tag-top-story"],"yoast_head":"\n