Alimak Group acquires industrial elevator business in the US
STOCKHOLM (Sweden), 13 hours, 22 minutes ago
Alimak Group, a global provider of sustainable vertical access and working at height solutions, has signed an agreement to acquire the permanent industrial elevator business of US-based Century Elevators.
Headquartered in Webster, Century Elevators has been owned by BrandSafway since 2019. Founded in 2009, it has established itself as one of the leading suppliers of industrial rack-and-pinion elevators in North America.
The business comprises two segments: one rental division and one division focused on selling and servicing permanently installed rack-and-pinion elevators.
As per the deal with BrandSafway, the parent company of Century Elevators, Alimak Group will acquire the division that sells and services Century’s permanent industrial rack-and-pinion elevators.
The acquired assets include customer and supplier contracts, selected fixed and working capital assets, employees, the Century brand and the lease of Century’s premises.
The acquired business has a turnover of $9.7 million and operates close to the Alimak Group margin, said the statement.
The acquisition offers several strategic advantages for Alimak Group, including a strengthened market position in both the US and Canada through the distribution of high-quality industrial elevators and a robust service presence.
Additionally, the transaction brings on board a team of highly skilled professionals, further enhancing the Group’s expertise, it stated.
Alimak Group and BrandSafway are committed to further strengthening their current relationship by leveraging Alimak Group’s application and product expertise and BrandSafway’s extensive coverage and strong presence across the US and Canada.
"With this acquisition, we strengthen our industrial business in the US, which is of high strategic importance to the Group," remarked Ole Kristian Jødahl, CEO of Alimak Group.
"We look forward to welcoming our new Century Elevators colleagues and working together to deliver long-term value to customers and stakeholders," he added.-TradeArabia News Service
