Tadano Ltd. has finalized the acquisition of Manitex International, making it a wholly owned subsidiary as of January 2, 2025. With this strategic move, Manitex shares are no longer listed on Nasdaq, marking a new chapter for both companies.
The acquisition, first announced on September 12, 2024, involved Tadano purchasing all remaining shares of Manitex that it did not already own. Tadano initially invested in Manitex in 2018, acquiring 14.5% of its outstanding common shares.
This acquisition aligns with Tadano’s Mid-Term Management Plan, which emphasizes growth and diversification while maintaining a steadfast commitment to the lifting equipment industry. By integrating Manitex into its operations, Tadano expands its product portfolio to include mobile truck cranes and aerial work platforms, bolstering its position in global markets.
Toshiaki Ujiie, Tadano’s president, CEO, and representative director, welcomed Manitex into the Tadano family, stating: “Tadano has a strong global presence in large cranes and leads the Japanese market in truck loader cranes and aerial work platforms. However, replicating this success internationally has been a challenge. Combining the expertise of Tadano and Manitex allows us to expand globally, support our customers more effectively, and drive innovation. Together, we will achieve great things and reach new heights.”
The leadership team at Manitex International is also undergoing changes. Hiroshi Nishizaki, with extensive experience in U.S. construction machinery businesses, will assume the role of chairman of the board. Dean Barley, the current president and CEO of Tadano America Corporation and Tadano Mantis Corporation, will add the title of president and CEO of Manitex International to his responsibilities.
Former Manitex executives—Dave Langevin, Michael Coffey, and Joseph Doolan—are stepping down but will remain as interim advisors during the transition period.
Through this acquisition, Tadano gains access to Manitex’s diverse product line, which includes Manitex mobile truck cranes; PM knuckle boom cranes; Valla small electric cranes and Oil & Steel aerial work platforms.
The acquisition also includes five engineering and manufacturing facilities across North America and Europe, as well as Rabern Rentals, enhancing Tadano’s infrastructure and service capabilities.
