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Hiab Acquires Galfab
Hiab, part of Cargotec, has entered into an agreement to acquire the U.S. manufacturer Galfab, which makes roll-off hoists and related equipment. The acquisition broadens Hiab’s demountable portfolio while Galfab’s equipment will be included in Hiab’s nationwide US sales and service network. Galfab was launched in 1992 by the Galbreath family and apart from the legendary hoist designed by Don Galbreath, it also offers other products including compactors, containers and self-dumping hoppers. Its headquarter and main manufacturing site is in Winamac, Indiana, but Galfab also has sites in Phoenix, Arizona, and Houston, Texas. It currently employs around 100 people. Galfab will become part of Hiab’s Demountables, Forestry & Recycling Cranes division, which includes hooklift and skiploader demountables sold under the MULTILIFT brand, as well as JONSERED recycling cranes and LOGLIFT forestry cranes. “This is great news for new and existing customers. Galfab’s portfolio including the famous roll-off hoist will be integrated into Hiab’s US nationwide sales and service network. Together we are the second largest provider of demountables in the waste and recycling industry in the US. Galfab’s product portfolio including the popular roll-off-hoist is complementary to our offering and will help to introduce MULTILIFT products to new customers,” said Pauliina Kunvik, senior vice president, Demountables, Forestry & Recycling Cranes, Hiab. “Hiab US is excited to be working with the team at Galfab. Together we will expand the new product and services offering to the customers, strengthening our position in the industry. We see many opportunities to grow the US business with Galfab and Hiab products together, supported by our nationwide sales and service network,” said James Oreck, vice president, sales & services, North America, Hiab. “I am extremely excited about Galfab becoming part of the Hiab team. This is a perfect match for Galfab and will enable us to continue to provide the leading brand in the industry to our customers while adding more quality products,” said Jerry Samson, CEO, Galfab. “This partnership unites two companies with premier brands in the industry. Galfab and MULTILIFT are known for quality and durability and bringing them together will only enhance the brand,” stated Don Galbreath, Galfab's founder. The acquisition expands Hiab’s U.S. manufacturing footprint that previously included the multi-assembly unit for WALTCO tail lifts in Streetsboro, Ohio. The acquisition is subject to passing the approval process of sellers and Hiab. Closing is expected to take place during Q3 2021.
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