Manitex joins Tadano 

Manitex joins Tadano 

Manitex International and Tadano have announced a definitive agreement for the acquisition of Manitex by Tadano. Since 2018, Tadano has owned 14.5% of Manitex shares and its brands Manitex (truck cranes), PM (auxiliary cranes), Oil&Steel (aerial work platforms) and Valla (industrial cranes). This equipment will complement and expand Tadano's product ranges, enabling it to strengthen its three main segments: mobile cranes, truck-mounted cranes and aerial work platforms. The agreement has been approved by the Boards of Directors of both Tadano and Manitex. On completion of the transaction, Manitex will become a wholly-owned subsidiary of Tadano.

"Our expanded partnership with Tadano represents an exciting new chapter for our employees and customers," said Michael Coffey, Manitex CEO. "The acquisition by Tadano will help mitigate cyclical risks, while giving the company scale and greater international reach. With Tadano, we are strategically positioned to become a leading provider of lifting equipment solutions for the construction, infrastructure and industrial markets."

The transaction is expected to close in the first quarter of 2025, subject to Manitex shareholder approval, regulatory approvals and other customary closing conditions.