Over the last two years, Hiab has been expanding its loader cranes portfolio, most recently renewing its light range cranes in May this year.
The acquisition of Effer, which has an enterprise value of EUR 50 million (A$78.83 million), will complement Hiab’s loader cranes range and expand the company’s selection of heavy cranes, particularly in the >100tm segment, which Effer is known for.
“I am happy to welcome Effer to the Hiab family. This acquisition is a bold step in line with our growth strategy to be the global leader in on-road load handling and in particular in loader cranes, the industry that Hiab founded nearly 75 years ago,” said Roland Sundén, president of Hiab.
The acquisition is subject to regulatory approvals and is expected to be received in the second half of 2018.