# Hiab acquires Effer loader cranes from CTE Group for EUR 50 million

Hiab, part of Cargotec, has agreed to acquire the Effer loader cranes business from CTE Group for an enterprise value of EUR 50 million. Effer is headquartered in Minerbio, Italy.

- Type: Acquisition
- Announced: 2018-07-31
- Where: Minerbio, Italy, Italy
- Value: $58.5M (50.0M EUR)
- Jobs: 400
- Status: announced
- Products: loader cranes, knuckle-boom cranes, truck cranes, marine cranes
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Cargotec](https://endata.com/companies/1832.md) (acquirer)
- [Cargotec](https://endata.com/companies/1832.md) (partner)
- [Hiab](https://endata.com/companies/17730.md) (acquirer)
- [Effer S.p.A.](https://endata.com/companies/33422.md) (target)
- [CTE Group](https://endata.com/companies/33423.md) (partner)
- [CTE Group](https://endata.com/companies/33423.md) (target)

## Sources

- [globenewswire.com](https://www.globenewswire.com/news-release/2018/07/31/1544312/0/en/hiab-strengthens-its-global-leadership-ambition-in-cranes-by-acquiring-effer-s-p-a-from-the-cte-group.html), 2018-07-31: "This acquisition means a significant advancement for Hiab's ambition to be the global leader in cranes and the preferred partner for its customers."
- [mhwmagazine.co.uk](https://www.mhwmagazine.co.uk/news/hiab-strengthens-its-global-leadership-ambition-in-cranes-by-acquiring-effer-s-p-a-from-the-cte-group_69780.html), 2018-07-31: "This acquisition means a significant advancement for Hiab's ambition to be the global leader in cranes and the preferred partner for its customers."
- [forkliftaction.com](https://www.forkliftaction.com/newsletter/archive/0883.htm), 2018-08-02: "This acquisition is a bold step in line with our growth strategy to be the global leader in on-road load handling and in particular in loader cranes."
- [news.europawire.eu](https://news.europawire.eu/cargotecs-hiab-to-acquire-the-effer-loader-cranes-business-from-cte-group-for-eur-50-million-984654135/eu-press-release/2018/08/02/), 2018-08-02: "Hiab, part of Cargotec, and a global leader in on-road load handling, has entered into an agreement to acquire the Effer loader cranes business from the CTE Group for an enterprise value of EUR 50 million."
- [news.europawire.eu](https://news.europawire.eu/cargotecs-hiab-to-acquire-the-effer-loader-cranes-business-from-cte-group-for-eur-50-million-984654135/eu-press-release/2018/08/02/13/39/27/65570/), 2018-08-02: "This acquisition is a bold step in line with our growth strategy to be the global leader in on-road load handling and in particular in loader cranes, the industry that Hiab founded nearly 75 years ago."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.