Italian tracked aerial lift and spider crane manufacturer Almac has acquired spider lift manufacturer Easy Lift in an all-share purchase deal supported by private equity firm Wise Equity, which acquired a majority stake in the business in 2022.
Easy Lift founders and senior managers Michele and Emanuele Sorianini will remain with the company in their current roles and will join the Almac board of directors. Easy Lift will continue to operate as a separate brand and business within the new ‘group’ and retain its separate sales and distribution network.
The company statement this morning said: “Thanks to this industrial combination, the group will benefit from greater strength in terms of investments dedicated to technological innovation and the development of new products, with the aim of further improving its service and offering globally.”
Almac chief executive Andrea Artoni added: "We are very proud to welcome Easy Lift to our group. This operation stems from a shared vision of development and innovation, with the ambition of strengthening our international presence while maintaining the specialisation and quality that distinguish us. Together, we will be able to accelerate our growth projects and create new opportunities for our customers and partners."
Emanuele and Michele Sorianini of Easy Lift said: "Participating in this project represents an extraordinary opportunity for Easy Lift. Our companies are complementary and share the same values of customer focus, product quality, and a focus on innovation. Thanks to the support of Wise Equity, we are confident we can continue our development path with even greater momentum."
Finally Luigi Vagnozzi and Ilaria Montefusco of Wise Equity, added: “The integration of Almac and Easy Lift represents a typical Wise Equity operation, identifying leading companies in their market niche and creating a synergistic industrial combination with highly complementary businesses, preserving the DNA of each company, but at the same time creating the conditions to increase investments in innovation and accelerate international development.”
Vertikal Comment
This is surprising and yet not surprising... Since Wise Equity acquired Almac just over two years ago it has made no secret about wanting to grow the business through acquisitions as well as organically.
This latest move looks solid, with the spider lift market growing, and plenty of further potential over the next few years. It also comes at a time when Hinowa, the long time market leader is becoming more corporate, as part of JLG as is Bluelift as part of the new Versalift organisation. Changes such as this often throw up opportunities for well funded smaller players such as Almac/Easy Lift, Platform Basket and CMC.
All in all this looks like a very good move for both parties.
Comments