Alimak completes Tractel take over
Alimak has completed its acquisition of Tractel and announced a major reorganisation and new senior management appointments.
The company agreed the acquisition in August - See: Alimak to Acquire Tractel
- the combination will create a business with revenues in the region of €600 million.
Speaking after the transaction completed Alimak chief executive Ole Kristian Jødahl said: “I am excited to welcome Tractel and its highly skilled employees around the world to the Alimak group. The acquisition of Tractel brings significant commercial synergies which we will now start to execute on. The total expected annual cash flow potential from commercial and cost synergies amounts to approximately SEK150 million (€14 million) by 2026, of which approximately SEK80 million (€7.3 million) are estimated to be realised by 2024.”
Tractel chief executive Philippe Gastineau, who has been appointed senior executive vice president of Alimak’s Facade Access and new Height Safety & Productivity Solutions divisions added: “Alimak and Tractel have a lot in common. A long history, a large group of industrial, construction, rental, wind and distribution clients, a culture focused on delivering great customer value in a safe environment, and a global team to deliver this. Joining forces makes a lot of sense, and the Tractel team is looking forward to working with the Alimak team to deliver a smooth integration as well as the expected synergies, both top and bottom line.”
Alimak has already started the integration progress, with some parts of the business due to join Alimak’s four existing divisions, while a significant section of the Tractel operations - including lifting gear, winches and fall protection equipment - will form the new ‘Height Safety & Productivity Solutions’ division of Alimak.
Tractel's rack & pinion business - which includes mastclimber manufacturer Scanclimber - is to be absorbed into Alimak’s Construction division. While its permanent access operations which includes suspended platforms will join the Façade division.
The integration plans take the number of Alimak divisions to five.
Alimak’s five divisions :
Includes Mastclimbers - Alimak and Scanclimber - transport platforms and hoists for both construction and rental customers. It will continue to be managed by executive vice president David Batson.
Tractel’s permanent access organisation joins the Facade Access division which includes everything from standard BMU's (Building Maintenance Units) for mid to high rise buildings to custom solutions, Davits and simpler access systems for low rise structures. As already mentioned, the new division will now be managed by Philippe Gastineau as will: -
Height Safety & Productivity Solutions
A new division, which will mostly be made up of the rest of the Tractel product range, including lifting gear and fall protection equipment.
The Wind division is not affected by the changes and will continue to be managed by executive vice president José Maria Nevot
Once again, no change with executive vice president Salomeh Tafazoli
remaining at the helm.
The rest of the team
The rest of the senior management team includes: Tractel chief financial officer Sylvain Grange
, who takes over that role for Alimak, replacing Thomas Hendel who has decided to leave Alimak “to pursue other opportunities outside the company”. He will remain with the company during his notice period, in order to assist with the transition.
- chief technology officer
- chief people & culture officer
- chief strategy and M&A officer and finally the company has appointed
as chief communication officer from January, when he will join the business after five years in a similar role with civil engineering and architectural contractor Sweco. He has more than 20 years’ experience in similar roles with a number of leading companies including Akzo Nobel, the Swedish Trade Council - Exportrådet - and Sveriges Radio.
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“As with any great company, the value is created by the people. It has therefore been and will continue to be vital to ensure an attractive and rewarding culture and thereby keep the best people. I am very happy that the leadership team of Tractel is taking on new roles in the new Alimak group and we will together as a team do our outmost to take our business to new heights,” said Jødahl.