BRIDGEPORT, CONN. - Alimak Hek, the world's leading manufacturer of rack and pinion driven equipment for vertical transportation, announces that it has purchased the manufacturing and design business from Champion Elevators, a U.S.-based manufacturer of rack and pinion construction hoists and industrial lifts.
Champion Elevators' serves the construction industry with temporary hoists, as well as industries such as offshore, oil and gas, refineries, and power with permanent industrial lifts. The Alimak Hek Group is a global, leading supplier of mast climbing equipment and added value services for both temporary and permanent installations providing vertical access solutions for people and materials in the construction industry.
Alimak Hek Group President and CEO Petter Arvidson says this major purchase is another key step in securing the company's market leadership position: "With the acquisition of Champion's assets we strengthen our position both globally and in the U.S. market in our core business. In addition to a further enhanced product and service offering for our customers, we expect significant synergy effects from merging our existing operations in the U.S. with the acquired Champion business."
Products will retain the Champion brand name, similar to the Alimak and Hek product lines of Alimak Hek. All Champion and Alimak Hek products will be sold in the U.S. through a joint sales force. Alimak Hek and Champion plan to leave all major products largely unchanged and respect customer product preferences, with the intention of further improving products and services to secure a strong position and meet increasing competition both from local and foreign manufacturers.
Dale L. Stoddard, president of Alimak Hek Inc. for the U.S., will head up the new organization, including both the present Alimak Hek business and the acquired Champion business in the US. "I believe this is a great opportunity for both the Champion and Alimak Hek organizations," said Stoddard. "We will now have a complete range of products and services meeting customer needs even better, both on the U.S.-market and internationally."
During the first half of this year, the Alimak Hek headquarters in the U.S. will be re-located from Bridgeport, Conn., to the Champion Elevator location in Houston, Texas. The joint new business will start operating immediately.
About Alimak Hek
Alimak Hek Group is the world's leading supplier of mast climbing equipment and added value services for both temporary and permanent installations providing the most cost efficient, reliable, and flexible vertical access solutions for people and materials in the construction and general industry. The Alimak Hek Group is jointly owned by two private equity companies, 3i and Ratos.