The Manitowoc Company, Inc., a leading global manufacturer of cranes and lifting solutions, announced that it has completed the acquisition of substantially all the assets of Aspen Equipment Company (“Aspen”), a diversified crane dealer and a leading final-stage, purpose-built work truck upfitter for approximately $51 million.
“We are pleased to welcome the Aspen team to the Manitowoc family. Our combined businesses provide unique synergies to accelerate our growth in the coming years. From a new machine perspective, Aspen’s upfitting business fits nicely with our National Crane boom truck business and will enable us to better serve key end markets, such as utility and telecommunications customers. Additionally, Aspen’s aftermarket business will complement our previously announced acquisition of H&E’s Crane business,” commented Aaron H. Ravenscroft, President and Chief Executive Officer of The Manitowoc Company, Inc.
The acquisition of Aspen will expand Manitowoc’s direct-to-customer footprint in Iowa, Nebraska, and Minnesota with new sales, used sales, parts, and service to a variety of end markets. Aspen’s field support team brings industry-leading technical competencies and exceptional customer support. In addition, Aspen’s specialized crane and truck equipment upfitting capabilities provide greater depth of product offerings to a wider base of customers including loyal Manitowoc customers.
