Fredericks Michael & Co. acted as exclusive financial advisor to Hiab AB on its strategic acquisition of the loader crane business of Argos Guindastes Indústria e Comércio Ltda., one of Brazil's leading loader crane manufacturers. Hiab, part of the Cargotec Corporation, is the world's leading provider of on-road handling equipment, intelligent services, and digitally connected solutions.
With this acquisition, Hiab will underpin its leadership ambition by making a strong entrance to the Brazilian market and establishing a solid foundation for its business in the whole region.
Argos is a privately owned company that has grown substantially since its establishment in 2002 to become one of the leading players in the loader crane industry in Brazil. The company has a manufacturing facility in Santo Antônio da Patrulha, and an extensive distribution network across Brazil and Latin America.
"Brazil is one of the world's largest markets for loader cranes. A presence in Brazil is important in order to become the leading player in the global load handling industry. The acquisition of this business is another concrete step in line with our strategy to grow and become the number one player in load handling worldwide," says Roland Sundén, President, Hiab.
"Historically, Argos is one of the largest players and providers of industry leading equipment in the Brazilian crane market. The complementary product portfolio of Argos, its large installed base, strong distribution network, as well as the well-known Argos brand will provide us great business opportunities in the future," concludes Joakim Andersson, Senior Vice President, Cranes, Hiab.
FM&Co. advised Hiab and Cargotec on a multi-step engagement which included evaluating and engaging local players, target definition, valuation, transaction structuring, management of due diligence, and negotiations through closing of the transaction.
About Hiab AB
Hiab is the world's leading provider of on-road load handling equipment, intelligent services and digitally connected solutions. As the industry pioneer, Hiab's more than 3,000 employees worldwide focus on its commitment to increase efficiency in its customers' businesses and to shape the future of intelligent load handling. For more information, please visit www.hiab.com
About Cargotec Corporation
Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better every day with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads they optimize global cargo flows and create sustainable customer value. Cargotec's sales in 2016 totaled approximately EUR 3.5 billion and it employs over 11,000 people. For more information, please visit www.cargotec.com
