PALFINGER Partners with Truck-mounted Aerial Lifts Manufacturer Equipment Technology LLC
The PALFINGER Group continues its growth strategy and is acquiring an 80-percent stake in Equipment Technology LLC (ETI).
Niagara Falls, Ontario, March 30. 2010—The PALFINGER Group continues its growth strategy and is acquiring an 80-percent stake in Equipment Technology LLC (ETI). The U.S. company, headquartered in Oklahoma, primarily produces and distributes aerial lifts. With a staff of around 190, ETI generated revenues of approximately USD 45 million in 2009, making it one of the top players in the field of aerial lifts in the North American market.
ETI has a long history as a manufacturer and customer service solution provider and initially focused its operations in the south west of the US. Its continuous growth was also supported by the acquisition of a majority interest in the service crane manufacturer Ideal Crane in 2007.
The aerial lift business accounts for the majority of the revenues generated by the company, which also manufactures service cranes. The products are distributed via direct sales forces and supported by a nationwide network of independent service outlets and ETI field service employees.