The Finnish company did not disclose the value of transaction to acquire the Peinemann businesses. It did though disclose that the two companies had a combined turnover of more than $43 million in 2023.
The deal is expected to close in the fourth quarter of this year and requires approval from the Dutch competition authority.
“The acquisition of Peinemann’s Port Services and Container Handling businesses will expand our footprint and increase our service presence in Europe’s largest port, where we already have strong customer relationships and a significant fleet of automated and manual equipment,” said Paolo Dazi, SVP Port Services at Konecranes.
“This agreement gives us the opportunity to further expand our service and equipment offering in the Netherlands and, with the new sales channels that Peinemann’s business will bring, accelerate our plans to transition to battery electric vehicles in a critical market,” said Andreas Falk, SVP Lift Trucks, Konecranes.