Kinshofer acquires Dutch attachments maker

Germany-based Kinshofer GmbH has entered into a definite agreement to acquire a majority stake in Netherlands-based GMT Equipment B.V.

The move follows by about three months the Kinshofer acquisition of Eurosteel B.V., another Netherlands-based hydraulic attachments maker.

It marks a continuing pattern of acquisitions for Kinshofer, a 50-year-old manufacturer of tools for truck-mounted cranes, excavators and skid steer loaders.

In addition to Eurosteel, previous acquisitions by Kinshofer have included: Liftall Inc. of Canada; Demarec B.V. of the Netherlands; RF System AB of Sweden; Auger Torque Group, with operations in the United Kingdom, Australia and China; Solesbee’s LLC, based in the United States; the Doherty Group, with operations in New Zealand and Australia; Hammer Srl, Cangini Benne Srl and Trevi Benne SpA, all based in Italy; Prolec Ltd. of the U.K.; and HGT Greifer-Technologie GmbH of Germany.

Kinshofer says the acquisition of GMT Equipment is significant in two ways: it strengthens the company’s portfolio of crane attachments, where Kinshofer says it already has a market leading position, and it improves Kinshofer’s presence in the tree removal and tree care industry.

“With this move, Kinshofer further demonstrates its commitment to being a global leader in attachments to the crane, excavator and wheel loader industries,” the firm says.

GMT Equipment, established in 1998 as a family business, focuses on the development and marketing of tree removal and tree care attachments.

“Kinshofer continues its strategy to provide the industry with a ‘one-stop shop’ solution of outstandingly engineered products to increase efficiency and, more importantly, profitability for its customers,” Kinshofer Group CEO Thomas Friedrich says. “The acquisition of GMT Equipment was the next step in our approach to be a global industry leader with solid local presence.”

“The concentration of knowledge and competence, particularly in the crane attachment segment, will form a powerful center for future developments customers can only benefit from," adds Michel Gierkink, who will remain the managing director and co-owner of GMT Equipment.

Kinshofer, which is a member company of Sweden-based Lifco AB, says employees from both Kinshofer and GMT are working on the rapid integration to provide customers worldwide with their comprehensive range of products and services.

The attachment maker’s growing global footprint includes subsidiaries in Germany, the Netherlands, the U.K., Canada, the U.S., France, Austria, the Czech Republic, the People’s Republic of China, Finland, Sweden, New Zealand, Australia and Italy.