17.10.2011

Havator acquires Norrlandskranar

Finnish based Havator has completed its acquisition of Swedish crane rental company Norrlandskranar AB and its subsidiaries Norrlandskranar i Jämtland AB and Örnkranar AB.

The deal was agreed as an equity purchase in September with the takeover completed last week.

Norrlandskranar has 20 cranes operating out of four locations in Sundsvall, Örnsköldsvik, Härnösand and Östersund with, along with concrete pumps and other equipment it employs 35 and has revenues of around SEK 49 million (€5.3 million).
The primary focus for Havator is to expand its mobile crane services in Central Sweden. The acquired business operates cranes from 10 to 300 tonnes, mostly Liebherr and Kato with the buulk of the fleet based in Sundsval and Örnsköldsvik
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A NorrlandsKraner crane at work

The new locations join and overlap with Havator’s own locations in Central Sweden: Uppsala, Sundsvall and Örnsköldsvik. The company is also in Nyköping, Norrköping, Motala, Gothenburg, Stenungsund as well as in Umeå, Skellefteå, Piteå, Luleå, Kalix and Kiruna.

Peter Nilsson, Havator’s director of operations Sweden said: “The acquisition of Norrlandskranar is yet another step in the strategic development of Havator in which the goal is a well-functioning network of depots within Sweden. Norrlandskranar has a good reputation and long experience within the industry and fits in well with this strategic construction. The position of Havator in Central Sweden will be strengthened even more through the acquisition resulting in even better possibilities for fulfilling the needs of our customers in a more effective manner. The industry is becoming more complex and more and more is required of the supplier making this kind of structuring absolutely necessary.”

Havator itself was subject to a Buy-In by CapMan Buyout IX fund last year, the private equity firm holds a 45 percent stake in the company, while Erkki Hanhirova holds a 40 percent stake, with the balance held by the Varma Mutual Pension Insurance Company along with the company’s employees.

Last year Havator acquired Swedish crane company BinSell i Uppsala [[link:http://www.vertikal.net/en/news/story/11193/]] Click here to see Havator buys BinSell]] and heavy transport company Trailer Consult i Östergötland.
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