Alimak Group has signed an agreement to acquire the permanent industrial elevator business of Century Elevators Inc., with an annual turnover of approximately USD 9.7 million.
Century Elevators Inc. ("Century"), headquartered in Webster, USA, has been owned by BrandSafway since 2019. Founded in 2009, Century has established itself as one of the leading suppliers of industrial rack-and-pinion elevators in North America. The business comprises two segments: one rental division and one division focused on selling and servicing permanently installed rack-and-pinion elevators.
Alimak Group and BrandSafway, parent company of Century Elevators, have agreed that Alimak Group will acquire the division that sells and services Century's permanent industrial rack-and-pinion elevators. The acquired assets include customer and supplier contracts, selected fixed and working capital assets, employees, the Century brand and the lease of Century's premises. The acquired business has a turnover of approximately USD 9.7 million and operates close to the Alimak Group margin.
The acquisition offers several strategic advantages for Alimak Group, including a strengthened market position in both the US and Canada through the distribution of high-quality industrial elevators and a robust service presence. Additionally, the transaction brings on board a team of highly skilled professionals, further enhancing the Group's expertise.
Alimak Group and BrandSafway are committed to further strengthening their current relationship by leveraging Alimak Group's application and product expertise and BrandSafway's extensive coverage and strong presence across the US and Canada.
"With this acquisition, we strengthen our industrial business in the US, which is of high strategic importance to the Group. We look forward to welcoming our new Century Elevators colleagues and working together to deliver long-term value to customers and stakeholders," says Ole Kristian Jødahl, CEO of Alimak Group.
For more information, please contact:
Johnny Nylund, CCO Alimak Group, +46 76 852 5759
johnny.nylund@alimakgroup.com
About Alimak Group
Alimak Group is a global provider of sustainable vertical access and working at height solutions, listed on Nasdaq Stockholm. With a presence in more than 120 countries, the Group develops, manufactures, sells and services vertical access and working at height solutions with a focus on adding customer value through enhanced safety, higher productivity and improved cost efficiency. The Group has a large installed base of elevators, service lifts, temporary and permanent hoists and platforms and building maintenance units around the world. The solutions portfolio also comprises height safety protective equipment, load measurement & control, lifting & handling, and a global after-sales business model, with recurring revenue from spare parts and services such as inspection, certification, maintenance, refurbishments, replacements and training. Founded in Sweden in 1948, the Group has its headquarters in Stockholm, 26 production and assembly facilities in 15 countries and approximately 3,000 employees. corporate.alimakgroup.com
