# GAM acquires Grupo Ascendum's material handling business in Portugal

Spain's GAM acquired the material handling operations of Portuguese Grupo Ascendum, including Hyster and Yale forklift dealerships in Portugal, for €4 million, adding 22 employees.

- Type: Acquisition
- Announced: 2021-08-06
- Where: Portugal
- Value: $4.72M (4.00M EUR)
- Jobs: 22
- Status: completed
- Products: forklift dealerships (Hyster, Yale)
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [GAM](https://endata.com/companies/56470.md) (acquirer)
- [Grupo Ascendum](https://endata.com/companies/56951.md) (target)

## Sources

- [internationalrentalnews.com](https://www.internationalrentalnews.com/news/gam-buys-portuguese-material-handling-business/8014043.article), 2021-08-06: "Spain's GAM has acquired the material handling operations of Portuguese company Grupo Ascendum, including dealerships in Portugal for Hyster and Yale forklifts."
- [supplychainmagazine.pt](https://www.supplychainmagazine.pt/2021/09/06/gam-adquire-divisao-de-movimento-de-carga-do-grupo-ascendum/), 2021-09-06: "A compra desta área de negócio a um grupo tão importante como a Ascendum fortalece-nos em Portugal."

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