Kalmar is to sell its US based Rough Terrain reach stacker and telehandler manufacturing business - Kalmar Rough Terrain Center.
The deal will essentially be a Management Buy Out supported by a Texas based investment group, led by Independent Bankers Capital Funds (IBCF) and Congruent Investment Partners.
Kalmar Rough Terrain Center operates from a 13.3 acre plant in Cibolo, Texas and builds Rough Terrain material handling equipment for both the defence and commercial markets. Its current range includes the RT240 Rough Terrain Container Handler and the RT022 Light Capability Rough Terrain Forklift that are specially built to military standards, and the RT290 Rough Terrain container handler for commercial operations.
The Kalmar RT240 commercial reachstacker
Kalmar president Antti Kaunonen said: "This transaction follows Kalmar's strategy to focus on container ports, heavy industry and distribution segments. The rough terrain handling business is outside these core areas. Furthermore, KRTC operates to a large extent as a stand alone business with limited synergies with the rest of Kalmar.”
Kalmar Rough Terrain Center president Stephen Speakes added: "After a strong period of ownership by Kalmar, we are thrilled to begin our next chapter as an independently owned and operated small business, based in Cibolo, Texas. The management's partnership with IBCF and Congruent positions the company very well to excel in the future. The combination of our operating strengths in rough terrain with their broad industry expertise and strong financial backing will allow the company to maintain a robust core base while aggressively pursuing growth opportunities. We think this is not only a win for the employees, customers and vendors of the company, but also the broader San Antonio and Central Texas markets. We'd like to thank Kalmar for their support through this process and their stewardship as owners."