11 July 2017
London. 29 June 2017 - HF Holding SA, the holding company encompassing the Gantrex Group, has signed a Share Purchase Agreement in which it has acquired 100% of the shares of Gantrail International Limited, in an all-cash deal for an undisclosed amount.
With the merger of Gantrex and Gantrail into one holding company, the Board of Directors and the Executive Committee of the Group aim to fortify its position in the market of industrial crane rail systems, and create substantial value for the Group in the long run. This transaction is considered as an important step in the Group's strategic 2020 business plan to grow revenue to 100 million EUR, with an EBITDA profitability of 12%.
The strategy moving forward is one of making 1 + 1 into 3, with the aim to grow top and bottom line of both companies, both individually and combined. Malcolm Trigg will continue as Managing Director of Gantrail International and will join the Group Executive Committee to represent the Gantrail side of the activity. All Operational Centers, both Gantrail's and Gantrex's will be managed by Alberto Beraza as Group COO, so to execute a number of synergies which have been identified.
Maarten Impens (Gantrex Group CEO): "The merger of Gantrex and Gantrail is a true milestone in the Company history which I consider a solid foundation for our joint future. As the oldest crane rail company in the world, Gantrail is a well-respected name in the market with strong brand equity and a distinct customer base. Next year both companies will have a joint history of 100 years in the crane rail market, and it is our goal to leverage the abundance of experience which has been built to continue to innovate and create better products and services for our customers. I have worked closely with some of the management of Gantrail building up towards this transaction and personally look forward to working with the entire Gantrail team in the execution of strategic plans which have been drafted aimed at improving the overall profitability of the new Group."
Malcolm Trigg (Gantrail Managing Director) commented: "Gantrail has a long and proud reputation as a driving force in the development of crane rail solutions worldwide. Continually focused on technical excellence and product performance, we have striven for over 50 years to offer an unparalleled level of technical and service performance to consultants, contractors and clients on major projects worldwide. With an exciting vision and road-map for innovation ahead, this union brings together what I consider to be the strongest technical forces in the market and I am extremely optimistic about the opportunities that this will deliver for our customers around the globe. The opportunities that this merger will unlock are tremendously exciting for everyone involved. The increased focus and investment we will now have on New Product Development will enable us to bring industry-changing innovation to the market much more quickly, which will help us meet the ongoing challenges and demands of our industry. I along with my colleagues now look ahead with a true sense of confidence and optimism."