Tadano continues to set the stage for global growth with two major acquisitions that underscore its commitment to innovation and market leadership.
By broadening its portfolio and strengthening its foothold in the lifting equipment industry, Tadano is making significant strides with its acquisition of Manitex International and the transportation business of IHI Transport Machinery Co. Ltd. These moves not only diversify Tadano’s product offerings but also reflect the company’s vision for long-term sustainable growth.
Investing in Manitex International
In early September 2024, Tadano announced plans to acquire all remaining shares of Manitex International, further deepening its investment in a company it first partnered with in 2018. Manitex International, known for its mobile truck cranes, aerial work platforms, and other lifting solutions, operates in North America and Europe and boasts an impressive line-up of brands, including Manitex, PM, Oil & Steel, Valla, and Rabern Rentals.
Mr Toshiaki Ujiie san.
According to Tadano’s President and Chief Executive Officer (CEO), Mr Toshiaki Ujiie, this move aligns with the company’s Mid-Term Management Plan (2024-2026), which focuses on “Reaching New Heights” by venturing into new areas and maximising value for stakeholders.
“Manitex’s diverse line-up of products complements Tadano’s existing offerings, enabling us to provide an even broader and more attractive range of solutions to our customers,” said Mr Ujiie. “This acquisition enhances the balance of our global portfolio across mobile cranes, truck loader cranes, and Aerial Work Platforms, positioning us for significant growth.”
Manitex is a holding company that manufactures and rents lifting equipment across key industries, including infrastructure, construction, and heavy industry. Its brands, such as PM for knuckle boom cranes and Valla for electric cranes, align closely with Tadano’s strategy of offering innovative, sustainable lifting solutions. With a global distribution network, Manitex will further extend Tadano’s reach in important markets.
The acquisition will be completed through a reverse triangular merger, with Manitex becoming a wholly owned subsidiary of Tadano. Valued at $223 million, including debt, the transaction is expected to close in the first quarter of 2025, subject to regulatory approvals and Manitex shareholder agreement.
Manitex’s leadership expressed enthusiasm about the acquisition. “Our expanded partnership with Tadano represents a new and exciting chapter,” said Michael Coffey, CEO of Manitex. “This will provide us with scale, access to technology, and production synergies, enabling us to better serve our customers.”
David Langevin, Executive Chairman of Manitex’s Board, highlighted the benefits for shareholders. “This agreement delivers immediate and certain value at a significant premium to our recent share price. It marks a strategic milestone for Manitex as we align with Tadano’s global vision.”
Diversifying with IHI Transport Machinery
Building on its growth strategy, Tadano has also announced the acquisition of the transportation business of IHI Transport Machinery Co. Ltd. This move marks Tadano’s entry into new segments, including tower cranes, port cranes, wind power cranes, and bulk handling systems, further diversifying its lifting equipment portfolio. With over 50 years of engineering expertise, IHI Transport Machinery brings valuable knowledge and products that complement Tadano’s existing capabilities. The acquisition is particularly aligned with Tadano’s efforts to advance its offerings in offshore wind power and bulk handling systems.
“We are excited to integrate IHI’s transportation systems into our portfolio,” said Mr Ujiie. “These new products enable us to deepen our customer relationships and deliver solutions for a wider range of lifting needs, from construction and industrial applications to ports and offshore projects.”
The new business will encompass the planning, development, design, manufacturing, sales, and maintenance of this expanded equipment line-up, creating synergies with Tadano’s German-based Crawler Crane business. Tower and port cranes, as well as the ring lift cranes developed by IHI, are expected to integrate seamlessly with Tadano’s lattice boom crawler cranes to better serve offshore wind power projects.
Additionally, this acquisition reflects Tadano’s commitment to environmental responsibility. By incorporating IHI’s cutting-edge technologies, Tadano aims to offer innovative lifting solutions that support the renewable energy sector and align with global sustainability goals.
Driving Innovation and Customer Value
These acquisitions also showcase Tadano’s dedication to meeting the evolving needs of its customers. By expanding its expertise and product range, the company aims to provide comprehensive solutions that address challenges across industries. Whether in construction, heavy industry, renewable energy, or infrastructure development, Tadano is positioning itself as a trusted partner.
The acquisition of Manitex International enhances Tadano’s ability to offer solutions tailored to the unique needs of diverse markets. Similarly, integrating IHI Transport Machinery’s advanced systems provides Tadano with the opportunity to lead in emerging sectors such as offshore wind energy, bulk material handling, and port operations. This customer-centric approach ensures that Tadano remains ahead of the curve, providing innovative, efficient, and sustainable solutions.
Strengthening the Path to Sustainable Growth
Both acquisitions represent a significant step in Tadano’s mission to contribute to a sustainable society through innovative and forward-thinking strategies. By expanding its product range and market presence, Tadano is reinforcing its position as a global leader in the lifting industry.
“These acquisitions reflect our unwavering commitment to growth, innovation, and delivering exceptional value to our customers and stakeholders,” Mr Ujiie concluded. “With these strategic moves, Tadano is not just reaching new heights but building the future of lifting solutions.”
As the company enters this next phase of growth, Tadano’s vision remains focused on addressing the evolving needs of its customers while contributing to a sustainable future. By integrating Manitex and IHI Transport Machinery into its global operations, Tadano is poised to drive innovation, create synergies across its businesses, and strengthen its position as a trusted partner in the lifting industry.
Tadano’s forward-thinking approach ensures its readiness to adapt to a changing market landscape, providing enhanced value and robust solutions that meet the demands of industries worldwide. From construction and heavy industry to renewable energy and infrastructure development, Tadano continues to lead the way in shaping the future of lifting equipment.
A Vision for the Future
As Tadano embarks on the next chapter of its journey, these acquisitions represent an important milestone in its growth. By embracing innovation, broadening its portfolio, and prioritising sustainability, Tadano is building a strong foundation for lasting success. These efforts reflect the company’s commitment to not only progress but to do so with integrity and a sense of responsibility.
With a focus on integrating advanced technologies and staying attuned to global trends, Tadano is well-positioned to continue making meaningful contributions to the lifting industry. Guided by a thoughtful strategy and a clear vision, Tadano strives to set new benchmarks as a trusted and forward-looking partner in lifting solutions.