03.12.2013

Manitex completes Valla takeover

Manitex has completed its acquisition of Italian pick & carry crane maker Valla for an ‘earn-out’ sum of $1.2 million.

Valla had revenues last year of $7.5 million and an operating profit of $700,000, the $1.2 million purchase price is largely payable on an earn-out basis, Manitex expects it to make an earnings contribution in 2014. Click here to see Manitex to acquire Valla.

Valla general manager Mario Riva said: "Valla's mobile industrial cranes have an outstanding reputation for quality and a long history of providing highly specialised and customised products for our customers, and we believe that Manitex International brings a strong distribution network and valued resources to the table that will significantly enhance Valla's market position. We look forward to joining the Manitex International group."
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The Valla 120 EVO

Manitex International’s president Andrew Rooke added: "Valla has a well-established brand name in mobile, industrial cranes, and we are excited to add another outstanding product line to broaden our crane portfolio. This transaction is another example of our commitment to growing our business in a prudent and measured fashion for our shareholders and provides us with additional presence overseas. It also increases our product offering worldwide which we believe will contribute nicely to our future growth as the global economies show more concrete signs of recovery."

Founded in 1945, Valla was still family owned, headed by Antonio Valla, a Californian based lawyer. It produces a line of mostly battery electric cranes with lift capacities ranging from two to 90 tonnes, which both wheeled or tracked models in the line-up.