Jorg Schopferer (Palfinger Iberica), Ramon Bassa Sebastian (Equipdraulic) and Frederick Kohlmann (Palfinger AG) at the signing of the contract

Palfinger has signed a contract for the takeover of Equipdraulic in Barcelona. This acquisition strengthens Palfinger Iberica's position in the Spanish market, especially in Catalonia, a strong industrial region. Since 1999, Equipdraulic has been distributing the majority of the Palfinger product range in Catalonia. A partner of Palfinger Iberica and founded in 1992, the dealership has 18 employees and is responsible for the sale, installation and service of Palfinger products. Despite COVID-19, the company increased its sales in the industrial region to almost EUR5 million (USD6 million) in 2020. With the takeover by Palfinger EMEA GmbH, the operating business of Equipdraulic will be integrated into Palfinger Iberica. The transaction includes 100% of the shares, all of which were owned by Novadraulic, whose co-founder and owner, Ramon Bassa Sebastián, will actively support the integration during the next two years. With the acquisition, Palfinger hopes to ensure the continuation of the service and sales network with its site close to local customers, as well as expansion of the company's competencies in Granollers, Barcelona. To help achieve this, the existing team will be strengthened with additional employees. "This acquisition sends a clear message: Palfinger continues to grow, even in times of crisis," says Palfinger CEO Andreas Klauser. "Catalonia is one of the largest industrial regions in Spain. With this integration, we are leveraging synergies and generating additional growth."