Filter content by area of interest
Ports & Terminals
Port AuthoritiesContainerBulkBreakbulk/General CargoRo-Ro/AutomotiveGTOs
Cargo Handling Equipment
STS CranesYard CranesMobile CHERo-Ro EquipmentBreakbulk EquipmentLow ThroughputBulk Handling Equipment
Shipping & Logistics
Container ShippingBreakbulk/General CargoRo-Ro ShippingDry Bulk ShippingLiquid cargoesLogistics
ICT
TOSPlanning & Optimisation TechnologyWiFiMobile ComputingPort Community SystemsAsset Tracking & Monitoring
Automation
Automated EquipmentGate AutomationRemote ControlProcess Automation
Multimodal
RailInland WaterwaysShortsea ShippingRoadAir-Cargo
Container Industry
Container manufactureContainer leasingRepair/StorageTradingConversion/Innovation
Refrigeration
Operations/TransportContainer leasingEquipmentM&R/Storage
Breakbulk
General cargoProject Cargo/Heavy LiftForest productsRo-Ro/AutomotiveAgribulks
Safety & Security
InsuranceHazardous cargoLashings/SecuringLegal/Regulatory
Civil Engineering
Port & terminal construction/designCivil & Consulting EngineersDredging & ReclamationMooring & FenderingLightingPaving & Surfacing
Environment
Business
InsuranceLegal/RegulatoryAppointments/PeopleMergers/Acquisitions/RestructuringFinance/Financial ResultsTrade & Professional AssociationsBusiness/Commerce Miscellaneous
 View all Topics View all Topics A-Z
More View all Topics View all Topics A-Z

You are viewing 1 of your 1 guest articles


register  or  login  for full access to online news

Kalmar sells rough terrain lift truck business to leveraged MBO

Kalmar, part of Cargotec, has signed an agreement to sell its rough terrain handling business, Kalmar Rough Terrain Center, to the management and a Texas-based investment group, led by Independent Bankers Capital Funds (IBCF) and Congruent Investment Partners, LLC

Linked InTwitterFacebookGoogle Plus

Kalmar Rough Terrain Center is a specialised manufacturer of rough terrain material handling equipment for the defense and commercial markets. It is also a manufacturer and distributor of parts and a service provider to existing equipment. Its portfolio includes the RT240 Rough Terrain Container Handler and the RT022 Light Capability Rough Terrain Forklift that are specially built to military standards, with a proven ability to provide exceptional container handling in the toughest environments, as well as the RT290 Rough Terrain Container Handler for commercial operations. KRTC is headquartered in Cibolo, Texas, US, and its facility includes four buildings on 13.3 acres.

A Kalmar RT 240 RTCH deployed by the British Army
A Kalmar RT 240 RTCH deployed by the British Army

The original RT reach stacker was developed by Kalmar and the US military a number of years ago and multiple orders from the US and other NATO armed forces were built in Lidhult, Sweden before production and design were transferred to the US.

 

Last year Cibolo took some flak from a rival for US military contracts, Hoist, on the basis that competition should be opened up and the military should specify more US content. This has probably not influenced Kalmar’s decision to sell, but it does beg a question about the new owners’ procurement strategy.

 

"This transaction follows Kalmar’s strategy to focus on container ports, heavy industry and distribution segments,” said Antti Kaunonen, President of Kalmar. “The rough terrain handling business is outside these core areas. Furthermore, KRTC operates to a large extent as a stand-alone business with limited synergies with the rest of Kalmar."

 

"After a strong period of ownership by Kalmar, we are thrilled to begin our next chapter as an independently owned and operated small business, based in Cibolo, Texas," commented Stephen Speakes, President and CEO, KRTC. "The management’s partnership with IBCF and Congruent positions the company very well to excel in the future. The combination of our operating strengths in rough terrain with their broad industry expertise and strong financial backing will allow the company to maintain a robust core base while aggressively pursuing growth opportunities.

 

“We think this is not only a win for the employees, customers and vendors of the company, but also the broader San Antonio and Central Texas markets. We’d like to thank Kalmar for their support through this process and their stewardship as owners."

 

Barry Conrad, Managing Partner of IBCF, said: "We, as a Texas based Small Business Investment Company, consider it an honor to partner with the very talented management team and employees of KRTC as they embark on their next phase of growth as a Texas owned small business."

 

Travis Baldwin, Managing Member of Congruent, stated: "We’re excited to partner with IBCF and the management in acquiring KRTC. We believe the platform is built to thrive, on both the military and commercial sides, under Stephen’s leadership and as a standalone, domestically-owned small business. This continues Congruent’s strategy of aligning with best-in-class management teams to build and grow businesses in the lower middle market."

 

The Cibolo plant has also been used to manufacture Kalmar DCG90-180 series FLTs. It is not known if production will continue under license or be transferred elsewhere.

Linked InTwitterFacebookGoogle Plus

You may also be interested in...

Innovative Investments

Rules on roubles

Funds for Seychelles port

TCU scraps extension

NWSA beats reduced emissions targets

NWSA-Alaska trade takes a tumble

Related Stories

Samherji takes a 25.3 % share in Eimskip

Icelandic fishing firm Samherji has purchased a 25% stake in the Eimskip, for IS...

ZIM and 2M Alliance to cooperate on Asia-USEC services

Maersk Line and MSC have entered into a long-term strategic cooperation deal wit...

CMA CGM wants to invest in Hamburg

The French carrier has expressed an interest in participating in terminal operat...

Morgan Stanley tightens grip on VTG

Reuters: Morgan Stanley Infrastructure has announced a cash takeover offer for r...
Linked In
Twitter