Nordic Crane has acquired a 70 percent controlling stake in Danish crane company Kran-Kompagniet from Morten and Mikkel Eriksen and chief executive Casper Petersen.
The deal, which was concluded last week, adds Denmark to Nordic Crane’s day to day crane coverage along with Norway and Sweden. The company runs a fleet of 350 mobile cranes, and is part of Kynningsrud group, which is based in Halden, Norway. Its activities include real estate, construction and housing development in Norway and Sweden as well as crane rental. No details of the transaction have been disclosed.
The Eriksens launched Kran-Kompagniet with Petersen in 2011, with the plan to become a market leader. Going forward the company will be rebranded as Nordic Crane and continue to be led by Casper Petersen, while Morten and Mikkel will be responsible for running the two depots - Kvistgård north of Copenhagen on Zealand, and Hasselager/Aarhus on Jutland.
Speaking of the move Morten Eriksen said: “We have had 10 very good years with great success, but to take part in larger scale projects we need increased volume. We are looking forward to this partnership with Nordic Crane, which will give us an opportunity to develop further, and make it possible for us to have a larger share of the Danish market.”
Morten Heli-Hansen of Nordic Crane added: “Kran-Kompagniet is a solid company that is well established in Denmark. We have been looking for a partner in Denmark for a long time and found a good match in Kran-Kompagniet. We are excited about this Danish adventure ahead.”
Pål Kynningsrud, chief executive of Kynningsrud Group, which owns Nordic Crane, said: “This agreement marks a milestone, as Nordic Crane is now represented throughout Scandinavia.”
Nordic Crane runs a fleet of around 350 All Terrain and truck/loader cranes and is part of the family owned Kynningsrud group. Based in Halden, Norway, the company was established by Bjarne Kynningsrud after World War II and purchased its first crane in 1967. Bjarne died suddenly in 1970, since then the business has been led by his oldest son Harald. Which now operates within the key areas of crane rental, property development, construction and house building in Norway and Sweden.
Kran-Kompagniet operates from two locations, Kvistgård due north from Copenhagen on Zealand, and Hasselager on the south west side of Aarhus on Jutland. The all-Liebherr fleet includes around 10 All Terrains ranging from a five axle 130 tonner to an eight axle 450 tonne LTM 1450-8.1. It also runs a fleet of five or six large loader cranes, a few lattice crawlers and pick & carry cranes.