Mammoet to acquire rival heavy lifter ALE
Dutch heavy lifting and transportation company Mammoet has agreed to buy UK rival firm ALE for an undisclosed amount.
The two companies entered negotiations over a purchase agreement earlier this month. At the time, Mammoet and ALE stated that, if the talks were successful, Mammoet would acquire the British heavy lift and transport specialist.
Both companies serve clients in the petrochemical, renewable energy, power generation, civil construction, and offshore industries.
Mammoet said on Thursday that the closing of the transaction was subject to approval of the relevant authorities.
According to the company, the tandem will continue to operate strictly independently until then.
Paul van Gelder, CEO of Mammoet, said: “We are very happy with this agreement. Mammoet and ALE complement each other in geographical presence on all continents.
“This enables us to improve our service proposition and create synergies, as we are able to mobilize equipment and personnel swiftly anywhere.
“Last but not least, Mammoet and ALE both have a strong legacy in innovations which, once combined, will enable us to grow as a technologically leading player.”
Mark Harries, managing director of ALE, added: “Mammoet and ALE share a strong ambition to be leading in the engineered heavy lifting and transport sector.
“We both have shaped the profession of heavy lifting and transport through numerous innovations in the past decades. The prospect of the two companies joining forces is very exciting.”
It is worth noting that ING acted as the financial advisor to Mammoet for this acquisition. Also, the company said that no further details would be provided until after the closing of the transaction.
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