Konecranes already owned 49.9% of ACS but now has control of 80% of the company with the option to buy the remaining 20%.
Konecranes said Knight Europe is well recognised in its field of business, and in addition to load handling solutions with aluminium rail systems and manipulators, also offers air balancers.
From an application and technology point of view, manipulators are positioned between cranes and robots. The manipulator business is closely linked to Konecranes’ competence, Konecranes said, but it also offers new customer and product segments with a high business potential. The current fragmented market is estimated to be more than EUR1bn. The two acquired companies’ combined net sales in 2008 were approximately EUR15m.
“Through the acquisition of ACS and Knight Europe, Konecranes can in the future take the leading position in the manipulator industry,” said Ilpo Hakala, director of workstation lifting systems. “Our strengths are an extensive product offering, a large customer base, the financial strength to further develop the business and our global sales and service network.”
