Fassi acquires full ownership of Cranab
Italy-headed crane manufacturer Fassi Gru S.p.A. has revealed that it has acquired 100 percent ownership of Sweden-based crane- and forest equipment manufacturer Cranab Group.
According to a joint statement, Fassi acquired part-ownership of Cranab Group in 2013 and has since then increased its ownership in the company step by step. With the acquisition of Chairman Hans Eliasson´s shares, Fassi has now become the full owner of the Cranab Group. The financial terms of the acquisition have not been disclosed.
The Cranab Group includes the companies Cranab AB which manufactures cranes and grass and brushwood clearing machines, Vimek AB which manufactures small forest machines, and Bracke Forest AB which manufactures scarifiers, planting machines and felling heads
Our ambition is to develop Cranab to become a crane supplier with a wider product range, in which truck-mounted timber and recycling cranes become new products. The continuous development of off-road cranes for forest machines will further improve Cranab´s already strong position. With Slagkraft, Vimek and Bracke Forest we will fulfil the ambitious development plans we already have, said Giovanni Fassi, CEO of Fassi Group.
Hans Eliasson leaves his position as chairman of the Cranab Group to Giovanni Fassi.
I’ve had a long and exciting journey with Cranab over the last 45 years. My definite opinion is that Cranab will have great opportunities in the future under Fassi ownership. Fassi´s ambitions are that Cranab will develop, produce and sell cranes that support and complement Fassi’s successful existing product range of cranes for cargo handling, commented Hans Eliasson.
Fassi is a successful crane manufacturer with headquarters in Bergamo in northern Italy. The company started by installing cranes onto trucks and as an importer of Foco cranes from northern Sweden in early 1960’s. The company is owned by the Fassi family and today has a strong position in the global market for truck loader cranes.
In Fassi, Cranab are getting a long-term industrial owner with a focused leadership and a solid knowledge of the crane market. The most important synergies are that Cranab has products which complement those that Fassi already has, and that Fassi has a well-developed global dealership network through which our products can be distributed, said Anders Strömgren, CEO for the Cranab Group.