Terex has sold its Load King Trailer manufacturing business to Manitex International, Inc. in the USA.
Boom truck and rough terrain forklift manufacturer Manitex agreed to pay US$3.1 million for the Dakota-based manufacturer of specialized trailers from the Genie Industries subsidiary of Terex Corporation. Load King average annual revenue is about $23 million according to Manitex.
Andrew Rooke, Manitex president and COO, said, “We are excited to add another niche product line with a well-recognized quality brand name and accomplished management team, to the Manitex family. The acquisition brings us additional government and military relationships, outstanding manufacturing capabilities and a strong distribution network, particularly within the energy, railroad and construction industries.
"The addition of Load King will create additional market opportunities for us as we leverage our distribution networks where we can offer the new Load King new product lines to our current dealers, and offer Manitex’s core products to Load King’s dealership network.”