Shenxi Machinery
Alimak has completed its acquisition of Tractel and announced a major reorganisation and new senior management appointments.
The company agreed the acquisition in August - See: Alimak to Acquire Tractel- the combination will create a business with revenues in the region of €600 million.
Speaking after the transaction completed Alimak chief executive Ole Kristian Jødahl said: [I am excited to welcome Tractel and its highly skilled employees around the world to the Alimak group. The acquisition of Tractel brings significant commercial synergies which we will now start to execute on. The total expected annual cash flow potential from commercial and cost synergies amounts to approximately SEK150 million (€14 million) by 2026, of which approximately SEK80 million (€7.3 million) are estimated to be realised by 2024."
Tractel chief executive Philippe Gastineau, who has been appointed senior executive vice president of Alimak`s Facade Access and new Height Safety & Productivity Solutions divisions added: [Alimak and Tractel have a lot in common. A long history, a large group of industrial, construction, rental, wind and distribution clients, a culture focused on delivering great customer value in a safe environment, and a global team to deliver this. Joining forces makes a lot of sense, and the Tractel team is looking forward to working with the Alimak team to deliver a smooth integration as well as the expected synergies, both top and bottom line."
Alimak has already started the integration progress, with some parts of the business due to join Alimak`s four existing divisions, while a significant section of the Tractel operations - including lifting gear, winches and fall protection equipment - will form the new `Height Safety & Productivity Solutions` division of Alimak.
Tractel's rack & pinion business - which includes mastclimber manufacturer Scanclimber - is to be absorbed into Alimak`s Construction division. While its permanent access operations which includes suspended platforms will join the Façade division.
The integration plans take the number of Alimak divisions to five.
Alimak`s five divisions :
Construction
Façade Access
Height Safety & Productivity Solutions
Wind
Industrial
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