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Slide #42. Manitex International — Valla, SpA
Manitex International (NASDAQ:MNTX)
Manitex International, Inc. (Nasdaq: MNTX), a leading provider of engineered lifting solutions including boom truck and rough terrain cranes, rough terrain forklifts, special mission oriented vehicles, container handling equipment and specialized engineered trailers, today announced that it has completed the previously announced acquisition of Valla, SpA, of Piacenza, Italy. The acquisition closed on November 30, 2013, for a total potential consideration of up to $1.2 million, principally based on an earn-out provision. Valla is expected to be accretive to Manitex International's earnings in 2014. Valla reported 2012 annual revenues of approximately $7.5 million and EBITDA of $0.7 million.
Manitex International is a provider of engineered lifting solutions. Co. operates through its subsidiaries: Manitex, Inc., which markets boom trucks, truck cranes and sign cranes; Badger Equipment Company, which manufactures rough terrain cranes and material handling products; PM Oil and Steel S.p.A., which manufactures truck- mounted hydraulic knuckle boom cranes; Manitex Valla S.r.L., which produces precision pick and carry industrial cranes; Manitex Sabre, Inc., which manufactures mobile tanks for liquid and solid storage and containment solutions; and Crane and Machinery, Inc., which is a distributor of Co.'s products as well as Terex Corporation's rough terrain and truck cranes.
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Strong Buy (3.50 out of 4)