Manitou Group — M&A Activity 2022

Nov 4, 2022

Acquisition of Italian company GI.ERRE SRL

Ancenis, November 4, 2022 ‒ Manitou Group, the global leader in handling, aerial lift platforms and earthmoving, has announced the acquisition of 100% of the shares in the Italian company GI.ERRE SRL, based in Castelfranco, Italy, and specializing in service activities for Manitou products. With this purchase, the Group enhances the service quality it provides to its customers in this region.

Backed up by 23 years of experience, GI.ERRE SRL manages a number of service-related activities on its Castelfranco site, including servicing and maintenance of machines, rentals, and finalization of certain custom models. The company covers the Emilia-Romagna region of Italy, where Manitou Group is already firmly established with a production site dedicated to its rotating and heavy-duty telehandler ranges and attachment design, conception of attachments, as well as an international spare parts logistics center. Maxime Deroch, President of the Services & Solutions division, says: "GI.ERRE has extensive expertise and their technicians know our products inside out. We are proud to be bringing all of the teams into the Manitou Group. With this acquisition, the sustainability of the service activity in the region is ensured".

GI.ERRE achieved a turnover of €3.6 million in 2021 with a workforce of 14 employees. Gerardo Giacomino, Managing Director, adds: "Passion for what we do and the reliability of our expertise are values we share with Manitou Group. We also both have a family structure, which helps bring us closer together. I'm delighted to see our company develop within Manitou Group".

Download the visuals from the corporate website media library Press contact: Franck Lethorey I f.lethorey@manitou-group.com I +33 (0)7 86 70 85 62

As the global leader in handling, aerial lift platforms and earthmoving, Manitou Group's mission is to improve working conditions, safety and performance around the world, while protecting people and their environment. Through its flagship brands – Manitou and Gehl – the group designs, produces, distributes and services equipment for construction, agriculture and industry. By placing innovation at the heart of its development, Manitou Group constantly seeks to bring value to all its stakeholders. Through the expertise of its network of 1,050 dealers, the group works more closely with its customers every day. Staying true to its roots, with its headquarters located in France, Manitou Group turned over €1.9 billion in 2021. It unites 4,500 talents worldwide with passion as their common driver.