Altec buys US competitor Lift-All

30 December 2008

Insulated boom and utility lift manufacturer Altec acquired Lift-All, a Fort Wayne, Indiana-based competitor, on 23 December. Altec, which said the acquisition included Lift-All’s products, manufacturing facilities and other assets, did not disclose the purchase price.

Lift-All makes a wide range of utility vehicles, including material handlers, digger derricks, tree trimmers, insulated lifts and elevator units.

The company employs around 100 staff at its Fort Wayne facility and has almost 40 distributors in the US, Canada and Mexico. Altec will maintain this facility. "We are going to continue working there and manufacturing will take place there for Altec," said Jessica Hallman with Altec; "As far as the number of employees that we'll maintain, that's still up in the air."

Altec said they are not sure whether they will hire or let go of staff. The company has yet to provide further details of how it will integrate the two businesses but the Hallman did say that eventually all products will be under the Altec brand name.

Lee Styslinger, III, president and chief executive officer of Altec, Inc, said; “This acquisition provides Altec with a unique opportunity to broaden our product line and offer additional choice and value to our customers. Lift-All has had a well-established reputation for producing reliable, quality products for nearly 30 years. Their equipment will be an excellent complement to Altec’s products and services.”

Altec is keeping a lid on which products from Lift-All complement theirs the best. "At this point, they have several products that complement ours and complement what we're trying to do. Those specific details will be worked out," Hallman said.

Altec, located in Birmingham, Alabama, is the world’s largest manufacturer of utility lifts, selling its equipment in over 100 countries worldwide.

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