PALFINGER intends to acquire one of the leading suppliers of maritime lifesaving equipment
The PALFINGER Group intends to acquire 100 per cent of the shares in Herkules Harding Holding AS and thus, the globally operating Harding Group. The seller is the Norwegian private equity fund Herkules. Harding is one of the leading suppliers of lifesaving equipment and lifecycle services for maritime installations and ships. Through this acquisition, PALFINGER will add new products and an international service network to its marine business.
This undertaking was adopted by the Supervisory Board and Management Board of PALFINGER AG today. Subject to the positive outcome of the due diligence audit and the final negotiations, the signing is scheduled to take place in the coming weeks. The acquisition of Harding by PALFINGER is contingent on the approval of the authorities.
Harding is headquartered in Seimsfoss, Norway, and, with its comprehensive service network, maintains operations in 16 countries around the world. With a staff of approx. 800 employees, the company recorded revenue of around EUR 140 million in 2015.
This would be the largest acquisition carried out in the history of the PALFINGER Group. PALFINGER’s marine business would almost double its business volume and, with more than EUR 300 million, contribute substantially more than 20 per cent to the Group’s revenue in the future. The service segment would gain in importance immensely. With Harding, PALFINGER would come a huge step closer to its strategic aim of becoming an integrated supplier of marine deck equipment with global service locations.
ABOUT PALFINGER AG
PALFINGER is an international technology and mechanical engineering company and the world’s leading producer and provider of innovative crane and lifting solutions. With around 12,540 employees (without contract workers), 31 manufacturing sites and a worldwide sales and service network of around 5,000 service points, PALFINGER creates added value from the challenges of its customers. PALFINGER is consistently continuing on its course as a provider of innovative, complete solutions that deliver increased efficiency and better operability, while leveraging the potential of digitalization along the entire production and value chain.
PALFINGER AG has been listed on the Vienna stock exchange since 1999, and in 2023 achieved record revenue of EUR 2.45 billion.
For further information please contact:
Hannes Roither | Group Spokesperson | PALFINGER AG
T +43 662 2281-81100 | h.roither@palfinger.com
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