TADANO COMPLETES MANITEX ACQUISITION

30-Second Takeaway

Tadano has completed its acquisition of Manitex International as of January 2, 2025, making Manitex a wholly owned subsidiary of Tadano Ltd. The transaction builds on Tadano’s initial 2018 investment and supports its mid-term growth strategy by expanding its global portfolio to include mobile truck cranes, knuckle boom cranes, small electric cranes, and aerial work platforms. The acquisition strengthens Tadano’s presence in North America and Europe while maintaining its focus on lifting equipme

Acquisition Completed

Takamatsu, Japan – January 2, 2025. Tadano has announced the successful completion of its acquisition of Manitex International. As of January 2, Manitex is now a wholly owned subsidiary of Tadano Ltd., and its shares are no longer listed on Nasdaq.

The acquisition follows Tadano’s announcement on September 12, 2024, that it intended to acquire all remaining Manitex shares not already under its ownership. Tadano first invested in Manitex in 2018, acquiring 14.5% of the company’s outstanding common shares at that time.

Strategic Rationale

The acquisition aligns with Tadano’s mid-term management plan, which outlines a growth strategy centered on expanding into adjacent product segments while maintaining a strict focus on lifting equipment.

Through Manitex, Tadano expands its global portfolio beyond large all-terrain and crawler cranes to include:

• Mobile truck cranes

• Knuckle boom cranes

• Small electric industrial cranes

• Aerial work platforms

The transaction also brings five engineering and manufacturing locations across North America and Europe into the Tadano group, along with the acquisition of Rabern Rentals.

Toshiaki Ujiie, President, CEO, and Representative Director of Tadano, stated: “We are pleased to welcome Manitex as the newest members of the global Tadano team. Tadano holds a strong global market share in large cranes. While we are market leaders in Japan for truck loader cranes and aerial work platforms, replicating this success internationally has been a challenge. By merging the engineering, sales, and service expertise of both organizations, we can swiftly enhance Tadano's global presence in these sectors, thereby better supporting our customers' lifting requirements and fostering innovation. Together, we will strive for excellence, grow robustly, achieve remarkable milestones, and reach new heights.”

Dean Barley - CEO Tadano America Corp.

Leadership Appointments

As part of the integration:

• Hiroshi Nishizaki has been appointed Chairman of the Board of Manitex International

• Dean Barley, President & CEO of Tadano America Corporation and Tadano Mantis Corporation, will also serve as President & CEO of Manitex International

Former Manitex executives Dave Langevin (Chairman), Michael Coffey (CEO), and Joseph Doolan (CFO) will step down from their roles and remain with the organization for a transitional period as interim advisors.

About Tadano

Tadano Ltd. is a Japan-based manufacturer focused exclusively on lifting equipment. Its global product range includes all-terrain cranes, rough-terrain cranes, truck-mounted cranes, crawler cranes, truck loader cranes, and aerial work platforms. Tadano serves infrastructure, construction, industrial, and energy markets through established sales and service networks worldwide.

The company has historically held a strong global position in large cranes and market leadership in Japan for truck loader cranes and aerial work platforms. Tadano’s mid-term strategy emphasizes disciplined expansion within the lifting sector, supported by acquisitions that complement its engineering capabilities, product coverage, and geographic reach.

Learn more about Tadano’s global lifting portfolio:🔗 https://www.tadano.com

About Manitex International

Manitex International is a North America–based manufacturer and supplier of lifting and access equipment serving infrastructure, heavy industry, utilities, and general construction markets. Its portfolio includes Manitex mobile truck cranes, PM knuckle boom cranes, Valla small electric cranes, and Oil & Steel aerial work platforms.

Manitex operates multiple engineering and manufacturing facilities across the United States and Europe, supporting regional production, customization, and service. With the completion of the acquisition, Manitex now operates as a wholly owned subsidiary of Tadano, integrating its product lines, engineering resources, and service capabilities into Tadano’s global organization.

Learn more about Manitex products and operations:🔗 https://www.manitex.com

Frequently Asked Questions

When did Tadano complete the acquisition of Manitex?

The acquisition was completed on January 2, 2025.

What is Manitex’s ownership status now?

Manitex International is now a wholly owned subsidiary of Tadano Ltd. and is no longer publicly listed.

When did Tadano first invest in Manitex?

Tadano first invested in Manitex in 2018, acquiring a 14.5% stake at that time.

Why did Tadano acquire Manitex?

The acquisition supports Tadano’s mid-term growth strategy by expanding its global product portfolio while remaining focused on lifting equipment.

What product segments does the acquisition add to Tadano’s portfolio?

The acquisition adds mobile truck cranes, knuckle boom cranes, small electric cranes, and aerial work platforms.

What markets do the acquired products serve?

The products serve infrastructure, heavy industry, utilities, and general construction markets.

Will Manitex continue to operate as a separate company?

Manitex will continue operating as a business within the Tadano group as a wholly owned subsidiary.

Who will lead Manitex under Tadano ownership?

Dean Barley will serve as President & CEO of Manitex International, and Hiroshi Nishizaki will serve as Chairman of the Board.

Does the acquisition include manufacturing facilities?

Yes. Tadano gains five engineering and manufacturing locations in North America and Europe through the acquisition.

What additional businesses were included?

The acquisition also includes Rabern Rentals.