Mammoet to acquire ALE?
British heavy lift specialist ALE has confirmed that it is in advanced discussions with Dutch international heavy lift group Mammoet regarding a takeover.
A joint statement from the two companies is as follows:
“Today, Mammoet Holding B.V. and ALE Heavylift have announced that the two companies are currently negotiating a purchase agreement, under which Mammoet would acquire the British heavy lift and transport specialist.”
“Should these discussions result in a signed agreement, the companies will seek approval from the relevant competition authorities. In the meantime, the companies will continue to act independently of each other, as competitors.”
“At this point, Mammoet and ALE wish to refrain from publishing more details about their acquisition talks.”
This is a slightly surprising development. There are really only three players in the global heavy lift market, Mammoet, ALE and Sarens, so not a market you would expect to see any significant consolidation pressures.
It is a very rarefied market with a high entry costs, so an acquisition is likely to see the market remain with just two major players. Not that this is a bad thing necessarily and it may well throw up some opportunities for other companies offering heavy lift cranes?
It will be interesting to see how the competition authorities take this, it is likely to depend on whether anyone objects or not.