News and information for the worldwide dredging industry

Bookmark and Share Email this page Email Print this page Print

Manitowoc Acquires Grove

The Manitowoc Company, Inc. has completed acquisition of Grove Investors, Inc. The final purchase price was $271 million, funded by a combination of cash to be paid at a later date, a private offering of senior subordinated notes due 2012, and Manitowoc common stock.

Grove Worldwide, which provides mobile hydraulic cranes, truck-mounted cranes and aerial work platforms, will become part of Manitowoc’s Crane segment, expanding Manitowoc’s line of lattice-boom crawler cranes and tower cranes. The combination makes Manitowoc a leader in all three major crane categories: crawler cranes, tower cranes and mobile hydraulic cranes.


Add your comment:
Edit Module