Van Beest acquires Irizar Forge and Load Solutions
By Alex Dahm26 September 2017
Dutch lifting equipment manufacturer Van Beest has acquired Irizar Forge in Spain and Load Solutions in Norway in separate deals. Irizar Forge is a leading hook and block maker based in the Basque Country of northern Spain. Load Solutions manufactures Tycan load lashing chains made from Dyneema synthetic fibre.
Founded in 1922, Van Beest is well known for its Green Pin shackles and other load lifting equipment for chains and ropes. It has acquired a majority share of Irizar Forge which can produce hooks, crane blocks and related items up to 5,000 tonnes capacity. The company was set up in 1923 and employs 45.
Commenting on the deal, Richard Meer, Van Beest member of the board of directors, said, “With the acquisition of Irizar Forge, Van Beest acquires a strong and well respected company in the lifting and mooring industry. It will not only expand our market position but will also increase the manufacturing footprint of Van Beest through the addition of a world-class production facility.”
Maria L. Irizar, Irizar Forge CEO, said, “In a volatile market in which having greater scale is a significant advantage, we are excited to have found the right partner to achieve that scale. Thanks to synergies in manufacturing, innovation and market access, I am confident that together we will create new opportunities for our customers and, in the process, further grow our business.”