10.10.2005

CTE takes over Effer/Bizzocchi

CTE has announced the acquisition of the Effer group, which is currently in administration, the deal was concluded in principle, early last month but was subject to final negotiation and confirmation by the Italian authorities, prior to its announcement.
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Effer and Bizzocchi now part of CTE

The Effer group includes Effer Lorry loaders and Bizzocchi truck mounted aerial work platforms. CTE is a diverse group including the distribution business that represents Genie in Italy, Genex fibreglass scaffold towers, CTE truck mounted and specialist self propelled lifts, Hoists and specialist furniture moving equipment and Venpa 3 the major Italian rental company,
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The CTE stand at last months Apex

A joint announcement from the two, said that the acquisition is intended to develop the international market for the combined product line. The Effer and Bizzocchi brands will remain, further details on any production or operational consolidation plans will not be discussed until the final legal details are completed.

Vertikal Comment

The merger of these two companies has strong potential as they compliment each other well. CTE is strong at the smaller end of the truck mounted market, while Bizzocchi is strong with larger truck mounts.

Geographically, Effer has subsidiaries in the USA, Denmark and Greece, while CTE is located in the UK, France, Spain and Germany.

The Effer truck crane range, will take CTE further into the material handling field by adding its wide range of lorry loaders and marine knuckle boom cranes.

A large number of Italian producers are struggling, with a sluggish home market, while the strength of the Euro is beginning to undermine their competitive position.

In the days of the Lira, the government would allow the currency to devalue, thus restoring the competitive position of manufacturers. As this is no longer possible, we are likely to see some significant consolidation among Italian equipment producers in the year ahead, this deal possibly being the first of many.