Manitou acquires Terex Equipment, buying its way into the India marketplace
The Manitou group, world-leader in all-terrain equipment and material-handlers has finalized the acquisition of Terex Equipment Private Limited (TEPL) in India.
Founded in 2003, Terex Equipment is well known for the design, manufacture and distribution of construction equipment, mostly backhoe loaders and skid steer loaders and had a 30 million euro revenue in 2016, mostly in Southern Asia.
With this latest acquisition the Manitou Group is reinforcing its ambitions for the handling equipment market in India and, on a broader level, in Asia and emerging countries.
Michel Denis, President & Chief Executive Officer of Manitou Group stated, ”We are very proud of this acquisition. With TEPL, Manitou reinforces its presence in emerging markets. We will continue to develop the TEPL solid dealer network as well as the services approach and to capitalize on the strong industrial basis to also develop new product ranges for Asia and emerging countries”.