# Cargotec completes acquisition of TTS Group's marine and offshore business

Cargotec, through its subsidiary MacGregor, completed the acquisition of TTS Group's marine and offshore businesses for an enterprise value of approximately EUR 87 million, after Chinese regulatory approval.

- Type: Acquisition
- Announced: 2019-08-02
- Status: completed
- Products: cargo handling equipment, hatch covers, cranes, side-loading systems
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md), [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Cargotec](https://endata.com/companies/1832.md) (acquirer)
- [TTS ASA Group](https://endata.com/companies/16726.md) (target)

## Sources

- [heavyliftpfi.com](https://www.heavyliftpfi.com/shipping/2019/08/02/cargotec-finally-completes-takeover-tts-groups-marine-business/), 2019-08-02: "Cargotec has completed the acquisition of the marine and offshore businesses of cargo handling equipment manufacturer TTS Group."

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