Manitou Group — M&A Activity 2017

Jul 25, 2017

The Manitou group completes its acquisition of a majority stake in the Australian company LiftRite Hire & Sales

/Ancenis, 25 July ²⁰¹⁷ – The Manitou group, world leader in all-terrain material handling, finalized its acquisition of a majority stake (55%) in the Australian company LiftRite. Thanks to a supplementary call option, the group will hold a 96% share by 2020.

A family-owned company founded in 1983 by George Hogg, Mark Manning and Ted Hirschfeld, LiftRite distributes Manitou, Gehl, Kalmar and Kobelco products for the construction and mining markets. In 2016, the company generated 12 million euros in sales revenue, of which Manitou Group products accounted for 65%.

Michel Denis, Manitou Group president and CEO, states: "LiftRite has got a team with great expertise and excellent know-how. Through the acquisition of a stake in our historical dealer in Australia, we reinforce Manitou's position in the mining sector while continuing to reinforce and develop all brands carried by LiftRite in all the markets served in this region."

ISIN code: FR0000038606 Indices: CAC All-Tradable, CAC Ind. Engin. CAC Industrials, CAC Mid & Small, CAC Small, Enternext PEA PME 150, Euronext® Family Business

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27 July 2017 (after market closing): Income for H1 2017

The Manitou Group is a global market leader in all-terrain material handling. It designs, manufactures, distributes and services equipment for the construction, agriculture and industry sectors.

The Group's product ranges include all-terrain fixed, rotating and heavy-duty telehandlers, all-terrain, semi-industrial and industrial masted forklift trucks, wheeled or tracked skidsteer loaders, articulated loaders, access platforms, truckmounted forklifts, warehousing equipment and attachments.

Through its iconic brands - Manitou, Gehl and Mustang and its network of 1,400 dealers worldwide, the Group offers the best solutions by creating optimum value for its customers.

Headquartered in France, in 2016 the group recorded revenue of 1.3 billion euros in 140 countries and it employs 3,600 people, all committed to providing customer satisfaction.