Manitou Group has acquired a majority shareholding in its Finnish dealer, Lifttek, based near Helsinki.
Founded in 1995, Lifttek distributes equipment and provides after-sales service to the construction and agricultural markets all over Finland, with three locations in the cities of Vantaa (Helsinki region) and Tampere.
Manitou Group and Lifttek began working together in 2003, before the Finnish company became the official dealer in 2012.
In the interests of continuity, the three current shareholders retain a minority stake in the company, while all management and operational teams will also stay with the company. All products and services offered by Lifttek will continue to be marketed.
Mika Närhi, managing director of Lifttek, says: "We are proud to join Manitou Group. This transaction strengthens the synergies with our main supplier by bringing them the expertise and commitment of our teams and by building on their strength and stability. This opportunity will allow us to continue to grow and develop our service."
Michel Denis, president and CEO of Manitou Group, says: "We are very excited to welcome Lifttek and all their teams into the Manitou Group family. Lifttek has a wealth of expertise, historical know-how and extensive knowledge of its market, particularly in services. This acquisition of a majority stake is a long-term strategy that strengthens our foothold in the region and brings us closer to our clients."
Lifttek currently employs 30 people. It provides a variety of high-quality products and value-added services to its clients.