Mediaco acquires Altéad Lifting
The Tribunal de Commerce de Paris has confirmed that France's leading crane and aerial lift rental group Mediaco has made the winning bid to acquire the crane division of lifting, heavy transport and logistics group Altéad, which went into administration at the end of May. The bid was made in partnership with transport company Capelle which will take the rest of the Altéad operation. Bids closed on 21st June, with a number of companies interested in acquiring all or part of the business, including Foslev and Dufour.
Altéad operates a fleet of 190 cranes, with 530 employees, working from 15 locations, making it the third largest crane rental operation in France - Mediaco being the largest. Transport company Capelle is to acquire the rest of Altéad, with the deal due to complete on Thursday, August 1st. Altéad as a whole ran a fleet of more than 2,000 machines/vehicles from 60 locations with 1,250 employees and total revenues of €236 million.
Mediaco said: “This acquisition enables us to increase our equipment base and national presence, while demonstrating the determination of the family group’s strategy for growth and further development."
This takes the Mediaco fleet to 800 cranes from 35 to 750 tonnes, operating from 75 branches, with 2,000 employees a total revenue of around €340 million.