Kinshofer GmbH from Germany and the Netherlands-based company GMT Equipment signed a definite agreement to merge with Kinshofer acquiring a majority shareholding of GMT Equipment according to the terms of the agreement.
For more than 50 years, Kinshofer has been a manufacturer of tools for truck-mounted cranes, excavators and skid-steer loaders, consistently developing its product range in both the crane and excavator markets to become a competent and reliable partner for OEM’s and OED’s.
Kinshofer said the acquisition of GMT Equipment is significant because it strengthens Kinshofer’s portfolio of crane attachments, where Kinshofer already has a market-leading position, and it also improves Kinshofer’s presence in the tree removal and tree care industry, a growing segment.
GMT Equipment, a family business established in 1998, focuses on the development and marketing of safer and more efficient tree removal and tree care attachments. GMT Equipment’s success is based on Michel Gierkink and his team’s more than 25 years of knowledge and experience. According to the company, with a committed and well-educated workforce, GMT Equipment will continue to develop and sell its products in the global markets through its distribution channels.
“Kinshofer continues its strategy to provide the industry with a ‘one-stop shop’ solution of outstandingly engineered products to increase efficiency and, more importantly, profitability for its customers,” said Thomas Friedrich, president & CEO of Kinshofer Group. “The acquisition of GMT Equipment was the next step in our approach to be a global industry leader with a solid local presence.”
“The concentration of knowledge and competence, particularly in the crane attachment segment, will form a powerful centre for future developments customers can only benefit from,” said Gierkink, who will remain the managing director and co-owner of GMT Equipment. “The combination of both product ranges will create more ground-breaking innovations for the industry. The whole GMT Equipment team, which will stay on in its entirety, is very excited to be part of this mutual future. ”
Previous acquisitions include Liftall Inc. (Canada), Demarec B.V. (The Netherlands), RF System AB (Sweden), Auger Torque Group (U.K./Australia/China), Solesbee´s LLC (U.S.), the Doherty Group (New Zealand/Australia), Hammer Srl. (Italy), Cangini Benne Srl. (Italy), Trevi Benne SpA. (Italy), Prolec Ltd. (U.K.), HGT Greifer-Technologie GmbH (Germany) and more recently Eurosteel B.V. (The Netherlands), all cited as important milestones of this development, according to the company.
