January 16, 2006 • Alimak Hek has acquired the manufacturing assets of Champion Elevators, Houston, Texas. The deal strengthens Alimak Hek Group's presence in the United States with the addition of a U.S. manufacturing facility. Alimak Hek also operates manufacturing facilities in Sweden and The Netherlands. Assets, inventory, product designs, trademarks, and staff related to manufacturing and after-sales come with acquisition.
“With the acquisition of Champion we strengthen our position both globally and in the U.S. market in our core business. In addition to a further enhanced product and service offering for our customers we expect significant synergy effects from merging our existing operations in the U.S. with the acquired Champion business,” says Petter Arvidson, Alimak Hek Group President and CEO.
Champion Elevators makes temporary hoists for the construction industry and permanent hoists for industrial markets. In 2005, Champion Elevators generated about $20 million in revenue and had about 70 employees. Alimak Hek supplies mast climbing equipment for both temporary and permanent installations. The former Champion rental business will operate under the name of McDonough Construction Rental.
Dale L. Stoddard, President of Alimak Hek Inc. in the USA, will be heading up the new organization including both the present Alimak Hek business and the acquired Champion business in the United States. The Champion products will retain the Champion brand name, as have Alimak and Hek product lines. All Champion and Alimak Hek products will be sold in the US through a joint sales force.
Alimak Hek's U.S. headquarters will be re-located from Bridgeport, Conn., to the Champion Elevator location in Houston during the first half of this year, but the joint new business begins operation today.
