BGL Announces Manitex International Completes the Closing of its Acquisition by Tadano Ltd.

Rhea-AI Summary

Manitex International (NASDAQ: MNTX) has completed its acquisition by Tadano (TYO: 6395) in an all-cash transaction valued at $223 million, or $5.80 per share, representing a 52% premium over the last trading day's closing price before announcement. Following the acquisition, Manitex becomes a wholly owned subsidiary of Tadano, and its shares are no longer publicly traded.

Manitex, headquartered in Bridgeview, Illinois, is a leading manufacturer of truck cranes, aerial work platforms, and specialized lifting solutions, with manufacturing facilities in the United States, Italy, and Romania. The company's portfolio includes recognized brands such as Manitex, PM, Oil & Steel, Valla, and Rabern Rentals. The company serves infrastructure, maintenance, utility, manufacturing, and construction markets, offering innovative solutions including environmentally focused, electrically powered products.

Positive

• All-cash acquisition at $223 million with 52% premium over market price
• Strong manufacturing presence across US, Italy, and Romania
• Market leadership in specialized lifting solutions
• Diversified product portfolio including eco-friendly electric solutions

Negative

• MNTX shareholders lose future upside potential as shares are delisted
• Loss of independent decision-making as company becomes subsidiary

Insights

M&A Specialist

The $223 million acquisition of Manitex by Tadano represents a significant consolidation in the specialized lifting equipment industry. The 52% premium over the last trading price indicates Tadano's strong strategic interest in Manitex's market position and technological capabilities, particularly in environmentally focused electric-powered solutions. This transaction creates substantial synergistic opportunities in global manufacturing and distribution networks, combining Manitex's strong presence in North America and Europe with Tadano's established Asian market dominance.

The deal structure as an all-cash transaction at $5.80 per share provides immediate value realization for Manitex shareholders while giving Tadano complete control to integrate operations efficiently. The acquisition strengthens Tadano's product portfolio, especially in truck cranes and aerial work platforms, while expanding their geographical footprint through Manitex's facilities in the US, Italy and Romania.

Industrial Equipment Analyst

This acquisition strategically positions the combined entity to capitalize on growing infrastructure and construction demands globally. Manitex's specialized electric-powered equipment portfolio aligns perfectly with increasing environmental regulations and sustainable construction requirements, particularly in developed markets. The integration of Manitex's Rabern Rentals division into Tadano's operations opens up significant opportunities in the high-growth equipment rental market, especially in the robust Texas construction sector.

The consolidation enhances competitive positioning against larger industry players, combining Manitex's innovation in specialized lifting solutions with Tadano's century-long expertise in crane manufacturing. This merger particularly strengthens the combined entity's position in the mobile crane and aerial work platform segments, where market growth is driven by urbanization and infrastructure modernization trends.

Leading provider of mobile truck cranes, aerial work platforms, specialized lifting solutions, and construction equipment rentals

CLEVELAND, Jan. 7, 2025 /PRNewswire/ -- Brown Gibbons Lang & Company (BGL) is pleased to announce that Manitex International, Inc. (NASDAQ: MNTX) (Manitex) has completed the acquisition by Tadano Ltd. (TYO: 6395) (Tadano). BGL's Engineered Equipment investment banking team served as the exclusive financial advisor to Manitex in the transaction. Under the terms of the transaction, Tadano acquired Manitex in an all-cash transaction valued at $223 million at the time of announcement or $5.80 per share, a 52% premium over the closing price for the last trading day prior to announcement. Following the acquisition, Manitex is a wholly owned subsidiary of Tadano, and Manitex's shares are no longer publicly traded.

The Company's globally recognized brands include Manitex, PM, Oil & Steel, Valla, and Rabern Rentals.

Headquartered in Bridgeview, Illinois, Manitex is a leading international manufacturer of truck cranes, aerial work platforms, specialized lifting solutions, and construction equipment rentals to infrastructure, maintenance, utility, manufacturing, and construction markets. Manitex engineers and manufactures its products in world-class assembly and fabrication facilities in the United States, Italy, and Romania, supported by a global proprietary dealer distribution network. Manitex is a market share leader providing innovative, tailored solutions to its customers, including environmentally focused, electrically powered products unmatched in their versatility and design. Its portfolio of manufactured lifting and aerial access solutions is complemented by the Company's growing equipment rental and consumables division, Rabern Rentals, which is headquartered in and serves the North Texas market. The Company's globally recognized brands include Manitex, PM, Oil & Steel, Valla, and Rabern Rentals.

Founded in 1919 and headquartered in Takamatsu, Japan, Tadano is an original equipment manufacturer and distributor of construction and vehicle-mounted cranes, aerial work platforms, and other specialized material handling solutions sold globally under a set of highly recognized brands.

BGL's Industrials Group has extensive global transaction experience and domain knowledge across a broad range of industrial end markets. Our emphasis is on providing investment banking advisory services and capital raising strategies to middle-market companies that offer unique value propositions to their customers and proprietary product and service offerings.

To learn more about the state of M&A across the Industrial market, including how trends will shape the future landscape of industrial M&A, download our most recent Industrials research reports: https://bit.ly/BGLIndustrialsResearch. 

About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company (BGL) is a leading independent investment bank and financial advisory firm focused on the global middle market. The firm advises private and public corporations and private equity groups on mergers and acquisitions, capital markets, financial restructurings, business valuations and opinions, and other strategic matters. BGL has investment banking offices in Boston, Chicago, Cleveland, Los Angeles, and New York, and real estate offices in Chicago, Cleveland, and San Antonio. The firm is also a founding member of REACH Cross-Border Mergers & Acquisitions, enabling BGL to service clients in more than 30 countries around the world. Securities transactions are conducted through Brown, Gibbons, Lang & Company Securities, LLC, an affiliate of Brown Gibbons Lang & Company LLC and a registered broker-dealer and member of FINRA and SIPC. For more information, please visit www.bglco.com. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/bgl-announces-manitex-international-completes-the-closing-of-its-acquisition-by-tadano-ltd-302344976.html

SOURCE Brown Gibbons Lang & Company

FAQ

What is the total value of Tadano's acquisition of MNTX?

Tadano acquired Manitex International (MNTX) in an all-cash transaction valued at $223 million, or $5.80 per share.

What premium did MNTX shareholders receive in the Tadano acquisition?

MNTX shareholders received a 52% premium over the closing price for the last trading day prior to the acquisition announcement.

Where are MNTX's manufacturing facilities located?

Manitex operates manufacturing facilities in the United States, Italy, and Romania.

What happens to MNTX stock after the Tadano acquisition?

Following the acquisition, Manitex becomes a wholly owned subsidiary of Tadano, and its shares are no longer publicly traded.

What are the main brands owned by MNTX before the acquisition?

Manitex's globally recognized brands include Manitex, PM, Oil & Steel, Valla, and Rabern Rentals.