Manitex completes deal for PM Group

SHARE Manitex completes deal for PM Group

Manitex International Inc. said Thursday it has completed its $91 million purchase of an Italian crane manufacturer.

Bridgeview-based Manitex is an international provider of cranes, forklifts and other specialized equipment. PM Group S.p.A makes truck-mounted, hydraulic knuckle boom cranes.

“Knuckle booms cranes have been gradually gaining traction in the North American markets in the past few years, and we believe that this is a very exciting opportunity for Manitex and our shareholders,” chairman ad CEO David J. Langevin said in a news release.

“We have already begun the planning process for additional knuckle boom production here in North America, and expect to introduce this exciting new product line throughout our North American dealerships this year.”

Manitex earned $6.6 million on revenue of $197.2 million in the nine months ended Sept. 30, 2014.

A PM Group crane | PM Group S.p.A

A PM Group crane | PM Group S.p.A

The Latest
Searocket, a female piping plover, was seen at the beach Wednesday morning. Birders are hopeful for a match after they saw the pair near each other, which they say is a good sign.
John Shadbar, 70, is accused of shooting his neighbor with an assault rifle May 7. Prosecutors allege Shadbar acted because the victim, Melissa Robertson, who is white, had Black children. Robertson survived and is recovering.
“I’ve been in the game long enough to know this doesn’t last forever,” Grifol said.
About 5 p.m. Wednesday, 47-year-old Francois H. Reed-Swain was at City Winery, 1200 W. Randolph St., when another employee, 41, stabbed him multiple times with a knife, officials said.
With the loss Thursday, the Cubs dropped the series 2-1.