PALFINGER: EXPANSION IN SWEDEN

Yesterday, PALFINGER has signed a contract to acquire Hinz Försäljnings AB. The acquisition of PALFINGER’s second largest global independent distribution partner headquartered in Sweden strengthens its presence as an Austrian technology and mechanical engineering company in Sweden’s core market.

Bergheim, Austria on 1^st December 2020

With its 5 service points, 45 service partners, 71 employees and sales (2019) of about EUR 44.0 Mio., Hinz Försäljnings AB is PALFINGER’s most important Swedish sales partner. In the Northern European core market, the company sells a major part of PALFINGER’s product range, including naval cranes and services. In 46 years of collaboration, Hinz AB, founded in 1973 by Bertil Hinz, has sold more than 11,000 PALFINGER and EPSILON cranes in Sweden.

100-Percent Acquisition

This acquisition begins a new kind of collaboration. Based on the successful, long-standing and trusting relationship they have had, the owners of PALFINGER decided to make an offer to purchase the company. The transaction is for 100 percent ownership of the company Hinz Försäljnings AB, which belongs entirely to Hinz Holding AB. Magnus Hinz and Magnus Rosberg will remain and continue in their roles as Sales Manager and Managing Director. Non-disclosure of the purchase price has been agreed to. The contract of sale shall go into effect in the coming weeks once conditions and terms currently being determined are fulfilled.

A Secured Future

This purchase ensures the continued existence of Hinz Försäljnings AB, the second-largest independent dealer in the worldwide PALFINGER distribution network, in its entirety and with all employees at all locations. "The new ownership structure guarantees that Hinz Försäljnings AB, as the most important player in the Swedish market, remains the same and has a future," says Magnus Hinz.

Excellent Sales Structure

With this acquisition, PALFINGER secures an excellent sales and service structure, proximity to local customers and the essential contacts with Swedish truck manufacturers and original equipment manufacturers (OEMs). This is one important part of further strengthening the PALFINGER distribution network. "Acquiring our long-standing partner is a vital step towards providing our Scandinavian customers with even more intensive and comprehensive support – keeping in line with our brand promise: Creating value and growing together,” explains PALFINGER CEO Andreas Klauser. The contract for the takeover was signed on the 30^th November 2020 in Borlänge.