CARGOTEC CORPORATION, PRESS RELEASE AUGUST 21 2021 AT 11:00 AM EEST
Hiab, part of Cargotec, has entered into an agreement to acquire the US demountables manufacturer Galfab, which makes roll-off hoists and related equipment for the domestic waste industry. The acquisition broadens Hiab’s demountable portfolio while Galfab’s equipment will be included in Hiab’s nationwide US sales and service network.
Galfab is a premier designer and manufacturer of waste equipment of all types, known foremost for its roll-off hoist, a cable lift. The company was launched in 1992 by the Galbreath family and apart from the legendary hoist designed by Don Galbreath, it also offers other products including compactors, containers and self-dumping hoppers. Its headquarter and main manufacturing site is in Winamac, Indiana, but Galfab also has two sites in Phoenix, Arizona, and Houston, Texas. It currently employs around 100 people.
Galfab will become part of Hiab’s Demountables, Forestry & Recycling Cranes division. The division includes hooklift and skiploader demountables sold under the MULTILIFT brand, as well as JONSERED recycling cranes, known as material handlers in the US, and LOGLIFT forestry cranes.
Both MULTILIFT and Galfab demountables are known for their reliability and ease of use and the majority of users work in the waste & recycling industry.
“This is great news for new and existing customers. Galfab’s portfolio including the famous roll-off hoist will be integrated into Hiab’s US nationwide sales and service network. Together we are the second largest provider of demountables in the waste and recycling industry in the US. Galfab’s product portfolio including the popular roll-off-hoist is complementary to our offering and will help to introduce MULTILIFT products to new customers,” says Pauliina Kunvik, Senior Vice President, Demountables, Forestry & Recycling Cranes, Hiab.
“Hiab US is excited to be working with the team at Galfab. Together we will expand the new product and services offering to the customers, strengthening our position in the industry. We see many opportunities to grow the US business with Galfab and Hiab products together, supported by our nationwide sales and service network,” says James Oreck, Vice President, Sales & Services, North America, Hiab.
“I am extremely excited about Galfab becoming part of the Hiab team. This is a perfect match for Galfab and will enable us to continue to provide the leading brand in the industry to our customers while adding more quality products,” says Jerry Samson, CEO, Galfab.
“This partnership unites two companies with premier brands in the industry. Galfab and MULTILIFT are known for quality and durability and bringing them together will only enhance the brand,” states Don Galbreath, Founder.
Galfab is owned by its employees and Mosaic Capital Partners, LLC.
We welcome Galfab to Hiab! This acquisition is in line with our strategy to grow from our core businesses. The recent acquisition of EFFER has been a success due to the talented people from both companies executing our integration plans according to our expectations. Together, as part of Hiab, Galfab and MULTILIFT equipment will be able to grow their sales faster in the US waste and recycling segment by growing market share, through cross channel sales execution, and significantly increasing the services share of total revenue, says Scott Phillips, President, Hiab.
The acquisition expands Hiab’s US manufacturing footprint that previously included the multi-assembly unit for WALTCO tail lifts in Streetsboro, Ohio.
The acquisition is subject to passing the approval process of sellers and Hiab. Closing is expected to take place during Q3 2021.
Further information:
Pauliina Kunvik, Senior Vice President, Demountables, Forestry & Recycling Cranes, Hiab, m: +358 40 702 9755, pauliina.kunvik@hiab.com
Trent Appleby, Director, Integration, Hiab, m: +1 317 987 8593, trent.appleby@hiab.com
Nils Gjerstad, Senior Communication Manager, Hiab, m: +46 706 005 288, nils.gjerstad@hiab.com
About Hiab
Hiab is the world's leading provider of on-road load handling equipment, intelligent services, smart and connected solutions. Hiab’s around 3,400 employees worldwide work passionately for Hiab to be the number one partner and preferred load handling solution provider to its customers. As the industry pioneer and with a proud 75 year history, Hiab is committed to inspire and shape the future of intelligent load handling.
Hiab's class-leading load handling equipment includes HIAB, EFFER and ARGOS loader cranes, LOGLIFT and JONSERED forestry and recycling cranes, MOFFETT and PRINCETON truck mounted forklifts, MULTILIFT skiploaders and hooklifts, and tail lifts under the ZEPRO, DEL, and WALTCO brands. Hiab ProCare™ service, the award-winning HiVision™ crane operating system, or the HiConnect™ platform demonstrate Hiab’s constant drive to provide intelligent services and smart solutions that add value to its customers. www.hiab.com
Hiab is part of Cargotec Corporation. Cargotec's (Nasdaq Helsinki: CGCBV) sales in 2020 totalled approximately EUR 3.3 billion, and it employs around 11,500 people. www.cargotec.com
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