Crane and heavy lift equipment manufacturer Manitowoc has completed the acquisition of Aspen Equipment Company, a crane dealer and truck upfitter, for approximately USD51 million.
Aspen’s specialised crane and truck equipment upfitting capabilities provide greater depth of product offerings to a wider base of customers, said Manitowoc. The deal will enhance its footprint in Iowa, Nebraska, and Minnesota (USA) with new sales, used sales, parts, and service to a variety of end markets, the company added.
“From a new machine perspective, Aspen’s upfitting business fits nicely with our National Crane boom truck business and will enable us to better serve key end markets, such as utility and telecommunications customers,” said Aaron H. Ravenscroft, president and ceo of the Manitowoc Company. “Additionally, Aspen’s aftermarket business will complement our previously announced acquisition of H&E’s crane business.”
The deal was first announced in August, as HLPFI reported here.
The acquisition of H&E Equipment is expected to close in the fourth quarter of 2021.