26.05.2015

Wolffkran confirms HTC acquisition

Wolffkran has finally confirmed the acquisition of UK tower crane company HTC Plant Ltd, which will be rebranded HTC Wolffkran. See change of ownership at HTC - April 10th

The deal - which was agreed on May 14th - gives Wolffkran a rental fleet of over 200 Wolff tower cranes, 370 employees and revenues of more than £40 million. The company says that no changes are planned in the current business operations. No financial details of the acquisition have been released.

Wolffkran chief executive Peter Schiefer said: “The acquisition is a big step for us, but a very logical one. It’s totally in line with our global strategy of manufacturing, selling, renting and providing related crane services. With HTC we are taking an experienced and highly motivated management team and an extremely skilled work force on board. And the solid UK construction market was just another driver for our decision.“

Dave Holder, managing director of HTC added: “Wolffkran has been the tower crane manufacturer of our choice for decades. Its reliable and state of the art cranes are the ideal fit for our 'be the best' culture. Becoming a fully integrated part of the Wolff family fills us with pride and confidence.“

The acquisition coincides with HTC’s 40th anniversary as a Wolfkran dealer and takes the Germany manufacturer's global rental fleet to more than 750 tower cranes, making it one of the largest tower crane rental companies in the world.

Vertikal Comment

This deal has been rumoured for a very long time as a solution for the financial challenges facing the PC Harrington group. In recent months it has been off and on several times. Now that it is finally done it makes good sense and is a logical move for the manufacturer while providing continuity and long term stability for employees and customers alike.