Mammoet Signs Agreement to Buy ALE
Mammoet has signed an agreement to acquire ALE. Both companies are specialists in engineered heavy lifting and transport for sectors such as the petrochemical industry, renewable energy, power generation, civil construction, and the offshore industry.
Paul van Gelder, CEO of Mammoet, said: “We are very happy with this agreement. Mammoet and ALE complement each other in geographical presence on all continents. Together, we have a well-balanced portfolio of activities worldwide. This enables us to improve our service proposition and create synergies, as we are able to mobilize equipment and personnel swiftly anywhere. Last but not least, Mammoet and ALE both have a strong legacy in innovations which, once combined, will enable us to grow as a technologically leading player.”
Mark Harries, group managing director of ALE, added: “Mammoet and ALE share a strong ambition to be leading in the engineered heavy lifting and transport sector. Both companies have a strong track record and are renowned for their craftsmanship, innovations, and fleet of equipment. We both have shaped the profession of heavy lifting and transport through numerous innovations in the past decades. The prospect of the two companies joining forces is very exciting.”
The closing of the transaction is subject to approval of the relevant competition authorities. Until that time, Mammoet and ALE will continue to operate strictly independently. ING acted as financial advisor to Mammoet. No further details will be given until after closing of the transaction.