Aertssen Group is set to acquire crane rental company Michielsens.
With the takeover, Aertssen Group plans to take advantage of both companies' strengths to reinforce its market position as a heavy lift contractor and as a crane rental company for all customer segments.
The Belgium-based company says the deal will add a number of depots to its network, which will benefit the geographical distribution of its crane fleet.
"The acquisition of Michielsens is an important strategic step and underscores the healthy ambitions of our family business for growth, both in Belgium and internationally," says Greg Aertssen, ceo of Aertssen Group. "The idea is for Michielsens to be run as an independent business unit within Aertssen Group with retention of the current employees and its own identity and customers, which complement those of Aertssen."
The takeover is expected to be in place by mid-February 2018, once the standard legal procedure has been completed.