Alimak adds UK acquisition
Mast climber and hoist manufacturer Alimak is to acquire UK based Cento Engineering Group, a façade access specialist which has been the distributor for Building Maintenance Units (BMU) produced by Alimak subsidiary Manntech for more than 20 years.
It runs an extensive BMU rental fleet and provides installation, maintenance, spare parts and inspections for BMUs throughout the UK. Founded in 1995 by chairman Barry Murphy - a Mannesmann/Manntech veteran - the company is based in Chelmsford. Revenues last year were around £5.1 million and total net assets of around £2.5 million.
The acquisition is an all share deal with the company set to become a part of Alimak’s growing BMU division. The transaction details have not been released but Alimak said: “The purchase price is not material relative to Alimak Group’s market capitalisation.”
Chief executive Ole Kristian Jødahl added: “I am pleased to welcome Cento Engineering into the Alimak group. This acquisition will further strengthen our standing as the market leading BMU service provider in the UK and will help grow our service business.”