Posted on October 21, 2024
Konecranes plans to acquire Rotterdam’s Peinemann Port Services and Container Handling, pending approval from Dutch regulators.
Konecranes will strengthen its Port Solutions presence at the core of Europe’s largest port by acquiring Rotterdam-based Peinemann Port Services BV and Peinemann Container Handling BV. The acquisition requires approval from the Dutch competition authority and is expected to close in Q4 2024. The value of the acquisition is not being disclosed.
Peinemann is a significant port services provider in the Netherlands with a wide customer base, and it has long-term maintenance relationships with several of Konecranes’ key customers. The turnover of the businesses being acquired was over €40 million in 2023. Some 100 employees are expected to join Konecranes once the deal is closed.
Peinemann Container Handling BV has been a Konecranes Lift Trucks distributor in the Netherlands since 2009 and been in the sales, rental and service business of lift trucks in the Rotterdam area since 1954. The planned acquisition will have no impact on Konecranes’ current Lift Trucks distributor model outside of the Netherlands.
“The acquisition of Peinemann’s Port Services and Container Handling businesses will expand our footprint and increase our service presence in Europe’s largest port, where we already have strong customer relationships and a significant fleet of both automated and manual equipment,” said Paolo Dazi, SVP Port Services, Konecranes.
“This agreement gives us the chance to further expand our services and equipment offering in the Netherlands and, with the new sales channels the Peinemann businesses will bring, accelerate our plans to transition to battery-powered electric vehicles in a critical market,” said Andreas Falk, SVP Lift Trucks, Konecranes.
Konecranes is a global leader in material handling solutions, serving a broad range of customers across multiple industries. We consistently set the industry benchmark, from everyday improvements to the breakthroughs at moments that matter most, because we know we can always find a safer, more productive and sustainable way. That’s why, with around 16,600 professionals in over 50 countries, Konecranes is trusted every day to lift, handle and move what the world needs. In 2023, Group sales totalled EUR 4.0 billion. Konecranes shares are listed on Nasdaq Helsinki (symbol: KCR).
