01.12.2020

Palfinger acquires Hinz

Palfinger has agreed the acquisition of Swedish distributor Hinz Försäljnings, the manufacturer’s second largest independent distributor from owners Margareta Korsgren and Magnus Hinz.

founded in 1973 by Bertil Hinz, the company is based in Borlänge and operates from five locations (Borlange plus Gothenburg, Malmö, Kallhäll and Segeltorp) with 45 service ‘partners’, 71 employees and sales last year of around €44 million. The company offers most of the Palfinger range but is particularly strong in the marine crane and Epsilon forestry loader crane market sectors. It became a dealer in the first year or two of operation and in the 46 years since has sold more than 11,000 Palfinger and Epsilon cranes in Sweden.

Palfinger will pay €18.4 million in cash, plus a possible contingent sum of €10.4 million for a total of €28.8 million. Hinz has net assets of €25.1 million. The deal is expected to complete at the end of the December.
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The deal was signed virtually: (L-R)Thomas Moucka of Palfinger, Margareta Korsgren and Magnus Hinz of Hinz and Thomas Scheidweiler of Palfinger

Magnus Hinz, said: “The new ownership structure guarantees that Hinz Försäljnings, as the most important player in the Swedish market, remains the same and has a future.”

Palfinger chief executive Andreas Klauser added: “Acquiring our long standing partner is a vital step towards providing our Scandinavian customers with even more intensive and comprehensive support, keeping in line with our brand promise: Creating value and growing together.”
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