Finland-based mast climber and hoist manufacturer Scanclimber is being acquired by Tractel Group.
The share purchase agreement is set to close in February.
In a letter to Scanclimber customers annoucing the deal, the company's managing director Eerik Nousiainen said it would have a positive impact on both companies and their customers.
Scanclimber will operate as a fully owned subsidiary of Tractel Group, which is based in Luxemburg and has its group operations in Paris, France. Scanclimber will maintain most of its existing operations, including its head office in Pirkkala and manufacturing plant in Gniezno.
Scanclimber's SC8000 Eiffel Transport Platform makes its way up to the first floor of the Eiffel Tower in Paris, France, where it is helping to carry out renovation work
Scanclimber's SC8000 Eiffel Transport Platform makes its way to the first floor of the Eiffel Tower in Paris, France.
Tractel manufactures, sells and services temporary and permanent suspended access solutions, lifting and handling devices, load measurement and control and personal protective equipments worldwide.
In the letter, Tractel added that Scanclimber's innovative approach to its develoment and new products has been driven by a talented and dedicated group of employees. Along with Tractel's existing regional organisation, it intends to keep the Scanclimber team and structure in place and is committed to growing the business.
Nousiainen said, "Scanclimber and Tractel share a common capability and passion to develop best-in-class vertical access solutions."
Through this acquisition Tractel has specificaly targeted entry into the growing rack and pinion based vertical access market and expansion in Northern Europe.
Nousiainen continued, "Tractel views this move as a key component in executing their strategy. The Scanclimber acquisition will strengthen Tractel's leadership in vertical access industry and will provide our customers a complementary and expanded portfolio of products, which will provide you more business opportunities than earlier.
"At the same time Scanclimber sales and service functions will be strengthened in markets like North America and Singapore, where Tractel has a strong presence.
"Similarly to Scanclimber, Tractel's products are sold globally to rental companies, distributors, and special projects."