The now former owner of Action Lift, Mohamed Essabar, will continue to manage the business’s operations with his team.
The move follows Liftket’s acquisitions Chainmaster in 2018, Movecat in 2019 and Hoystek in 2020, as well as the establishment of additional locations in Canada, the UK and India. According to the company, part of Essabar’s role will be to “ensure the success of the local Movecat partners”.
"Mohamed and I have had a connection within the lifting industry for many years, which is built on a high mutual trust. As part of our strategic plans and this long-standing connection, we have now been able to combine our competences in order to be successful together in the future," said Jürgen Dlugi, CEO of Liftket Hoffmann.
"Our target is to improve our presence, our customer service and the availability of products and solutions in the region," added Essabar.
Liftket itself was acquired in the spring by Ardian, a global private investment firm, which took a majority stake in the business.
Ardian said at the time of the acquisition that the deal would support the electric chain hoists and control systems supplier to accelerate its international growth plan.
“The growth strategy will focus on enhancing its product range with more complex control solutions, increasing its customer base and targeting select acquisitions in key markets,” the company said.
“Liftket has become a leading player in the European market through the absolute reliability, durability and safety of our products,” said Dlugi.
“Based on our strong competitive position and innovative products, as well as the fundamental growth of our customer markets, we continue to see significant growth potential for our company. In Ardian, we have found a partner that will actively support us in realising this potential.”
Marc Abadir, managing director, expansion at Ardian, added: “Liftket stands out for its long history of organic growth. Led by an experienced management team with highly motivated employees, its customers value the outstanding product quality, demonstrated by a very high level of customer satisfaction.
“The electrical chain hoists are used in critical applications where failure would involve significant safety risks or long downtimes of equipment. Combined with the company’s strong performance, its broadly diversified customer base, which operates in growing markets such as the stage sector, and the fragmentation of its international markets, has created significant growth opportunities. We look forward to working with the management team through this exciting period of expansion.”
Liftket employs 300 people across the development, production and sale of its products. The group operates internationally and serves over 800 customers.
