Hatlapa sold to Cargotec
The HATLAPA shareholders have entered into an agreement with Cargotec’s MacGregor to transfer all company shares and to integrate the merchant ship and offshore deck equipment business into the MacGregor portfolio.
MacGregor offers integrated cargo flow solutions for maritime transportation and offshore industries. MacGregor’s offering includes hatch covers, lashing systems, cranes, RoRo cargo and passenger access equipment and self-unloading systems. For the offshore industry, the product portfolio includes a broad range of advanced solutions for subsea load handling, anchor handling and towing and mooring operations. HATLAPA and the Norwegian group member Triplex are supplying winches, steering gears, compressors, shark jaws, towing pins and multi-deck-.handler cranes.
HATLAPA was founded in 1919 and is headquartered in Uetersen, Germany. At the day of the transaction, the company has 585 employees of which the majority is located in Germany, Norway and Asia. Its sales were around EUR 120 million in 2013. The company has production facilities in Germany and Norway for manufacturing strategically important components and products, but approximately two thirds of the production is outsourced to third parties.
“This acquisition is an important step in executing MacGregor’s growth strategy and providing customer-focused solutions in both merchant shipping and offshore segments. The markets are consolidating and MacGregor wants to take an active part in this development. Hatlapa complements MacGregor’s present offering and HATLAPA’s strong position in winches will make us a leading player in global winch markets. We see a significant growth potential in offshore and are now better equipped to grasp those opportunities. HATLAPA has an excellent management with pioneering attitude similar to MacGregor. Together we make a strong team with good results. HATLAPA also provides excellent opportunities within services”, said Mikael Mäkinen, President, MacGregor.
“MacGregor provides us access to a larger customer base and unique world-wide service network. Joining forces creates exciting opportunities for innovation and expansion into new markets,” says Dr. Hubertus Hatlapa, Chairman, HATLAPA. “Our operating culture is alike and becoming a member of MacGregor is seen as positive news to all of us at HATLAPA”, Dr Hatlapa continued.
HATLAPA Group’s three shareholders will continue to have an active role in the business after the transaction. This commitment is reinforced through their participation to a Cargotec level capital loan of EUR 35 million which in part consideration of the purchase price can be transferred to MacGregor equity prior to planned IPO. This arrangement supports MacGregor’s planned IPO and growth plans.
HATLAPA was fully integrated into the MacGregor operating structure and has continued its business as a new business line within MacGregor.
CDI Global transaction manager: Tor Morne