02.01.2025

Manitex now a Tadano subsidiary

Tadano has completed the acquisition of Manitex International today. The business includes Manitex truck cranes and boom trucks, PM loader cranes, Valla electric pick & carry cranes, and Oil & Steel aerial work platforms. It also includes Rabern Rentals, a four location rental company in Texas, which offers aerial work platforms, telehandlers and general rental equipment. The move also provides Tadano with five manufacturing locations across Italy and the USA.

As a result of the transaction Manitex has been delisted from the Nasdaq stock exchange and becomes a wholly owned subsidiary of Tadano. Tadano first invested in Manitex in 2018 and held a 14.5 percent stake when it announced the acquisition in September – See: Tadano to Acquire Manitex.

Tadano chief executive Toshiaki Ujiie said: “We welcome Manitex as the newest members of the global Tadano team. We enjoy a strong global market share in larger cranes and are market leaders in truck loader cranes and aerial work platforms in Japan but have not yet been able to duplicate this success outside of the country. Combining the engineering, sales and service expertise of both companies allows us to rapidly expand our global presence in these areas, so we can better support our customers’ lifting needs and further innovate. Together, we will work hard, grow strong, achieve great things and reach new heights.”

“Tadano’s Mid-Term Management Plan outlines the company’s growth strategy and the objective to venture into new areas. The Manitex acquisition is a significant step in implementing this strategy to further diversify the Tadano product portfolio while remaining 100 percent committed to the lifting equipment industry. In addition to other crane models, the strategic move adds mobile truck cranes and aerial work platforms to the Tadano portfolio to help expand the company’s global presence in these markets.”

Tadano director and senior administrator Hiroshi Nishizaki has been appointed as chairman of Manitex International, while Dean Barley, the chief executive of Tadano America and Tadano Mantis adds Manitex International to his current responsibilities.

Former Manitex executives – chairman Dave Langevin, chief executive Michael Coffey and chief financial officer Joseph Doolan have stepped down from their positions today but will remain with the business for a transitional period as interim advisors to the new management team.