Altec the utility truck, crane and platform company has purchased the Lift-All division of Hydra-Tech
Lift-All manufactures a wide range of truck mounted aerial work platforms, bucket trucks and digger derricks at its Fort Wayne, Indiana plant.
The company was founded around 30 years and employs 100. Details of the deal have not been released but are understood to include the whole business including the freehold of the Fort Wayne plant.
Lee Styslinger, president and chief executive of Birmingham, Alabama, based Altec said: "This acquisition provides Altec with a unique opportunity to broaden our product line and offer additional choice and value to our customers,"
"Lift-All has had a well-established reputation for producing reliable, quality products for nearly 30 years. Their equipment will be an excellent complement to Altec's outstanding line of aerial lifts, digger derricks, cranes and specialized equipment."
Altec employs around 800 in the Birmingham area, producing boom trucks, aerial lifts, digger derricks, truck-mounted cranes and specialty equipment.
This is a pure consolidation move with market leader Altec snapping up a smaller competitor, adding to its product range – although there appears to be fair level of product overlap.
However it does expand the company’s aerial lift range along with providing an additional production facility. Altec is known to be looking at expanding its aerial lift product line into the more mainstream market, this purchase will not achieve that aim.
It will be interesting to see how Altec goes about integrating this acquisition.
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