# Hiab completes acquisition of Effer cranes

Hiab, part of Cargotec, completed the acquisition of Effer S.p.A., a knuckle-boom crane manufacturer, from CTE Group. The signing was announced on July 31, 2018.

- Type: Acquisition
- Announced: 2018-11-06
- Where: Minerbio, Italy, Italy
- Value: $57.1M (50.0M EUR)
- Jobs: 400
- Status: completed
- Products: truck loader cranes, special application truck cranes, marine cranes
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.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

- [cranebriefing.com](https://www.cranebriefing.com/news/hiab-completes-the-acquisition-of-effer-cranes/2135645.article), 2018-11-06: "I am incredibly proud today to welcome Effer and its employees as part of the Hiab family."
- [transportmedia.be](https://transportmedia.be/2018/11/cargotec-koopt-kranenproducent-effer/), 2018-11-06: "Effer zal blijven produceren onder de eigen naam en zal gebruik blijven maken van het bestaande dealernetwerk."
- [sollevare.it](https://sollevare.it/hiab-completa-lacquisizione-di-effer/), 2018-11-07: "Hiab ha completato l'acquisizione di Effer S.p.A. da CTE Group."
- [forkliftaction.com](https://www.forkliftaction.com/newsletter/archive/0897.htm), 2018-11-08: "Hiab has completed the acquisition of Effer S.p.A. from CTE Group."
- [cranestodaymagazine.com](https://www.cranestodaymagazine.com/news/cargotec-deals-progress-6841100/), 2018-11-08: "I am incredibly proud today to welcome Effer and its employees as part of the Hiab family."
- [heavyliftpfi.com](https://www.heavyliftpfi.com/equipment/2018/11/08/hiab-completes-effer-acquisition/), 2018-11-08: "Hiab, has acquired knuckle-boom crane manufacturer Effer from CTE Group for an enterprise value of EUR50 million (USD57.1 million)."

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