BGL Announces Manitex International Completes the Closing of its Acquisition by Tadano Ltd.
PR Newswire
CLEVELAND, Jan. 7, 2025
Leading provider of mobile truck cranes, aerial work platforms, specialized lifting solutions, and construction equipment rentals
CLEVELAND, Jan. 7, 2025 /PRNewswire/ -- Brown Gibbons Lang & Company $(BGL.AU)$ is pleased to announce that Manitex International, Inc. (NASDAQ: MNTX) (Manitex) has completed the acquisition by Tadano Ltd. (TYO: 6395) (Tadano). BGL's Engineered Equipment investment banking team served as the exclusive financial advisor to Manitex in the transaction. Under the terms of the transaction, Tadano acquired Manitex in an all-cash transaction valued at $223 million at the time of announcement or $5.80 per share, a 52% premium over the closing price for the last trading day prior to announcement. Following the acquisition, Manitex is a wholly owned subsidiary of Tadano, and Manitex's shares are no longer publicly traded.
Headquartered in Bridgeview, Illinois, Manitex is a leading international manufacturer of truck cranes, aerial work platforms, specialized lifting solutions, and construction equipment rentals to infrastructure, maintenance, utility, manufacturing, and construction markets. Manitex engineers and manufactures its products in world-class assembly and fabrication facilities in the United States, Italy, and Romania, supported by a global proprietary dealer distribution network. Manitex is a market share leader providing innovative, tailored solutions to its customers, including environmentally focused, electrically powered products unmatched in their versatility and design. Its portfolio of manufactured lifting and aerial access solutions is complemented by the Company's growing equipment rental and consumables division, Rabern Rentals, which is headquartered in and serves the North Texas market. The Company's globally recognized brands include Manitex, PM, Oil & Steel, Valla, and Rabern Rentals.
Founded in 1919 and headquartered in Takamatsu, Japan, Tadano is an original equipment manufacturer and distributor of construction and vehicle-mounted cranes, aerial work platforms, and other specialized material handling solutions sold globally under a set of highly recognized brands.
BGL's Industrials Group has extensive global transaction experience and domain knowledge across a broad range of industrial end markets. Our emphasis is on providing investment banking advisory services and capital raising strategies to middle-market companies that offer unique value propositions to their customers and proprietary product and service offerings.
To learn more about the state of M&A across the Industrial market, including how trends will shape the future landscape of industrial M&A, download our most recent Industrials research reports: https://bit.ly/BGLIndustrialsResearch.
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company (BGL) is a leading independent investment bank and financial advisory firm focused on the global middle market. The firm advises private and public corporations and private equity groups on mergers and acquisitions, capital markets, financial restructurings, business valuations and opinions, and other strategic matters. BGL has investment banking offices in Boston, Chicago, Cleveland, Los Angeles, and New York, and real estate offices in Chicago, Cleveland, and San Antonio. The firm is also a founding member of REACH Cross-Border Mergers & Acquisitions, enabling BGL to service clients in more than 30 countries around the world. Securities transactions are conducted through Brown, Gibbons, Lang & Company Securities, LLC, an affiliate of Brown Gibbons Lang & Company LLC and a registered broker-dealer and member of FINRA and SIPC. For more information, please visit www.bglco.com.
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SOURCE Brown Gibbons Lang & Company
/CONTACT: CONTACTS: Industry Contacts: Andrew Petryk, Head of Industrials, apetryk@bglco.com, 216.920.6613; Justin A. Wolfort, Director, Engineered Equipment, jwolfort@bglco.com, 216.920.6629; Media Contact: Kaylyn R. Hlavaty, Communications Specialist, 216.920.6622, khlavaty@bglco.com
(END) Dow Jones Newswires
January 07, 2025 16:25 ET (21:25 GMT)