Material handling solutions provider, Konecranes, has expanded its port services presence with the acquisition of a German crane and service supplier, Kocks Kranbau. The acquisition gives Konecranes access to new European and global customers.
Konecranes did not disclose the financial terms of the acquisition that was closed this month already.
Kocks Kranbau GmbH was established in early 2023 following the insolvency of the parent company Kocks Ardelt Kranbau GmbH, a port and shipyard crane manufacturer. Kocks Kranbau’s main operations are based in Bremen, Hamburg and Oberhausen.
In recent years the annual net sales of the acquired business have totaled around €10-12 million, and the business has been profitable. The acquisition will bring close to 60 employees to Konecranes, and give it access to the large installed base of Kocks Ardelt Kranbau in Germany, Europe and globally.
“I am confident Kocks Kranbau’s expertise and customer proximity, when combined with Konecranes Port Services’ widespread presence, industry knowledge and technology, will strengthen our position and offering as global services provider in the port sector,” said Paolo Dazi, Senior Vice President Port Services, Konecranes.