Palfinger acquires Spanish distributor, Equipdraulic
Palfinger has signed a contract for the takeover of Equipdraulic in Barcelona, Spain. This acquisition strengthens Palfinger Iberica’s position in the Spanish market and, above all, in Catalonia, a strong industrial region.
Equipdraulic, SLU has been distributing the majority of the Palfinger product range in Catalonia since 1999. Founded in 1992, the dealership has 18 employees and is responsible for the sale, installation and service of Palfinger products. Despite Covid-19, the company increased its sales in the industrial region to almost €5 million in 2020.
With the takeover by Palfinger EMEA GmbH, the operating business of Equipdraulic will be integrated into Palfinger Iberica. The transaction consists of 100% of the shares, all of which are owned by Novadraulic, SL. The co-founder and owner Ramón Bassa Sebastián will actively support the integration during the next two years.
With this acquisition, Palfinger ensures the continuation of a high standard of service and sales with a site close to local customers, as well as expansion of the company in Granollers, Barcelona. To help achieve this, the existing team will be strengthened by additional employees.
Palfinger CEO Andreas Klauser said, “This acquisition sends a clear message: Palfinger continues to grow, even in times of crisis. Catalonia is one of the largest industrial regions in Spain. With this integration, we are leveraging synergies and generating additional growth.” He goes on to emphasise, “Joining our long-standing partner is an important step towards providing our Catalan customers with even more intensive and comprehensive support – in line with our brand promise: Creating value together.”
The contract for the acquisition was signed in Barcelona on February 10.