Cargotec acquires Hatlapa

17 Jul 2013
Hatlapa will strengthen MacGregor’s portfolio and position as a global market leader in winches

Hatlapa will strengthen MacGregor’s portfolio and position as a global market leader in winches

Cargotec’s MacGregor brand has acquired the German offshore deck equipment Hatlapa Group in a deal worth €160m.

The acquisition of Hatlapa should help to strengthen MacGregor’s portfolio and position as a global market leader in winches.

Mikael Mäkinen, president, MacGregor, said: “This acquisition is an important step in executing MacGregor's growth strategy and providing customer-focused solutions in both merchant shipping and offshore segments. The markets are consolidating and MacGregor wants to take an active part in this development.”

Conversely, MacGregor will provide Hatlapa with access to its larger customer base and world wide service network - the ideal platform for breaking into new markets.

Although Hatlapa will be fully incorporated into the MacGregor operating structure, it will continue its day to day business as a new business line under the MacGregor umbrella.

Hatlapa Group's three shareholders will continue to have an active role in the business after the transaction.

The shareholders are participating in a Cargotec level capital loan of €35m which in part consideration of the purchase price can be transferred to MacGregor equity prior to its planned initial public offering (IPO).

The IPO is good news for MacGregor because it means it has become successful enough to require much more capital to continue to grow.

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