Materials handling solutions provider Konecranes has completed its acquisition of Rotterdam-based Peinemann Port Services BV and Peinemann Container Handling BV, after the Dutch competition authority approved the transaction.

Finnish-headquartered Konecranes announced in October it was moving to shore up its port presence with the acquisition of the Peinemann entities. 

The value of the acquisition is not being disclosed, however the Peinemann companies reported 2023 turnover of EUR40 million (USD4.2 million).

Konecranes says some 100 employees will join the company now the deal has been finalised, adding the acquisition will have no impact on its business model outside of the Netherlands.

Peinemann Container Handling BV was founded in Rotterdam in 1954 and has been a Konecranes distributor for the Netherlands since 2009.

SVP Lift Trucks for Konecranes, Andreas Falk, says the acquisition will allow the company to expand its presence in Europe while offering the opportunity to “accelerate our plans to transition to battery-powered electric vehicles in a critical market”.