Cargotec strengthens MacGregor portfolio by acquiring Hatlapa GroupCompany News // July 17, 2013
Cargotec's MacGregor has entered into an agreement to acquire privately-owned Hatlapa Group, a merchant ship and offshore deck equipment provider, for Euros 160 million.
Hatlapa's main products are a wide range of winches, steering gear, compressors, multi-deck-handler cranes, and other winch-related handling equipment. The company's service business includes spare parts, maintenance, refurbishment and training.
"This acquisition is an important step in executing MacGregor's growth strategy and providing customer-focused solutions in both merchant shipping and offshore segments. The markets are consolidating and MacGregor wants to take an active part in this development. Hatlapa complements MacGregor's present offering and Hatlapa's strong position in winches will make us a leading player in global winch markets. We see a significant growth potential in offshore and are now better equipped to grasp those opportunities. Hatlapa has an excellent management with pioneering attitude similar to MacGregor. Together we make a strong team with good results. Hatlapa also provides excellent opportunities within services," said Mikael Mäkinen, President, MacGregor.
"MacGregor provides us access to a larger customer base and unique world-wide service network. Joining forces creates exciting opportunities for innovation and expansion into new markets," said Dr Hubertus Hatlapa, Chairman, Hatlapa. "Our operating culture is alike and becoming a member of MacGregor is seen as positive news to all of us at Hatlapa."
Hatlapa will be fully integrated into MacGregor operating structure and will continue its business as a new business line within MacGregor. Hatlapa's reporting will be consolidated into MacGregor's financial reporting once the transaction has been completed. The acquisition is subject to regulatory approvals from competition authorities, which are expected during the second half of 2013.