Cargotec's MacGregor announced that they have entered an agreement to acquire the privately owned Hatlapa Group. The acquisition for the Hatlapa Group was set at the value of EUR160 million. The three shareholders of Hatlapa Group will continue to with their roles in the business after the conclusion of the acquisition. Cargotec's brands MacGregor, Kalmar and Hiab are recognised leaders in cargo and load handling solutions around the world.
The acquisition was supported by a Cargotec capital loan of EUR 35 million. Part of the purchase price will be transferred to the MacGregor equity prior to a planned IPO. The arrangement will support the planned IPO and MacGregor's growth plans. Hatlapa is set to be fully integrated into the MacGregor operating structure and will continue as a new business line within MacGregor.
"This acquisition is an important step in executing MacGregor's growth strategy and providing customer-focused solutions in both merchant shipping and offshore segments. The markets are consolidating and MacGregor wants to take an active part in this development. Hatlapa complements MacGregor's present offering and Hatlapa's strong position in winches will make us a leading player in global winch markets. We see a significant growth potential in offshore and are now better equipped to grasp those opportunities. Hatlapa has an excellent management with pioneering attitude similar to MacGregor. Together we make a strong team with good results. Hatlapa also provides excellent opportunities within services," says Mikael Mäkinen, President, MacGregor.
"MacGregor provides us access to a larger customer base and unique world-wide service network. Joining forces creates exciting opportunities for innovation and expansion into new markets," says Dr. Hubertus Hatlapa, Chairman, Hatlapa. "Our operating culture is alike and becoming a member of MacGregor is seen as positive news to all of us at Hatlapa," Dr. Hatlapa continues.
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