The financial terms of the acquisition were not disclosedFinnish lifting and material handling company Konecranes has taken over crane and service supplier Kocks Kranbau.
Konecranes says the acquisition gives it access to new European and global customers.
The value of the transaction was not disclosed.
Kocks Kranbau GmbH was established early 2023 following the insolvency of parent company Kocks Ardelt Kranbau GmbH, a well-established port and shipyard crane manufacturer.
The Germany company’s main operations are based in Bremen, Hamburg and Oberhausen.
The acquisition will bring about 60 employees to Konecranes, and give it access to the large installed base of Kocks Ardelt Kranbau in Germany, Europe and globally.
“I am confident Kocks Kranbau’s expertise and customer proximity, when combined with Konecranes port services’ widespread presence, industry knowledge and technology, will strengthen our position and offering as global services provider in the port sector,” says Paolo Dazi, senior vice president port services, Konecranes.