Manitou Group — M&A Activity 2022

Apr 27, 2022

PRESS RELEASE

Majority investment in Finnish company MN-Lifttek Oy

Ancenis, 27 April 2022 — Manitou Group, the worldwide reference in handling, powered access and earthmoving, today announced the acquisition of a majority shareholding in its Finnish dealer Lifttek, based near Helsinki.

Founded in 1995, Lifttek distributes equipment and provides aftersales service to the construction and agricultural markets all over Finland, with three locations in the cities of Vantaa (Helsinki region) and Tampere. Manitou Group and Lifttek began working together in 2003, before the Finnish company became its official dealer in 2012. In the interests of continuity, the three current shareholders retain a minority stake in the company, while all management and operational teams will also stay with the company. All products and services offered by Lifttek will continue to be marketed.

Mika Närhi, Managing Director of Lifttek, said: "We are proud to join Manitou Group. This transaction strengthens the synergies with our main supplier by bringing them the expertise and commitment of our teams and by building on their strength and stability. This opportunity will allow us to continue to grow and develop our service."

Michel Denis, President & CEO of Manitou Group, said: "We are very excited to welcome Lifttek and all their teams into the Manitou Group family. Lifttek has a wealth of expertise, historical know-how and extensive knowledge of its market, particularly in services. This acquisition of a majority stake is a longterm strategy that strengthens our foothold in the region and brings us closer to our clients."

About Lifttek

Liftek is a company specializing in the import, sale, and after-sales service of lifting equipment, representing the leading brands in its field. Its clients are mainly machine rental companies, construction firms and agricultural contractors. Lifttek is today an important and recognized dealer specializing in the distribution of machines and parts, a multi-brand distributor with a strong focus on Manitou Group products. With turnover of €7.5m in 2021, the company employs 30 people. It provides a variety of high-quality products and value-added services to its clients.

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As the global leader in handling, aerial lift platforms and earthmoving sectors, Manitou Group's mission is to improve working conditions, safety and performance around the world, while protecting people and their environment.

Through its 3 flagship brands – Manitou, Gehl and Mustang by Manitou – 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, Manitou Group is headquartered in France. It achieved a 2021 turnover of €1.9 billion and brings together 4,500 talented people worldwide, all driven by a shared passion.