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08.08.2002

Germany's Gardemann sold for €24.65 million

A team of former Brambles managers has bought Gardemann for €24.65 million. The leveraged buyout group is called Gardemann Access Holding GmbH.

Brambles said that the sale would generate a profit after tax of around €5 million.

According to figures published in last month's "Kran & Bühne" Top 10, Gardemann currently has 1700 units in its powered access fleet and has a total of 23 depots.

The largest unit in Gardemann's fleet is the 100 metre working height Ruthmann TTS1000 - the largest truck mounted platform in the world.

The sale of Gardemann is part of a divestment program announced by Brambles several years ago.

A Bramble's spokesman in London declined to identify the members of the buyout group while Gardemann's senior management was unavailable for comment.

* This story will be updated as more news is received.

Read More:
Ascent of the Giant - Tim Whiteman witnessed the first ascent to 100 metres of Gardemann's new giant. C&A March/April 2001 (PDF file, 262KB).

K&B's Top 10 for 2002(In German ) (PDF file, 523KB).

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