Monday, January 26, 2009

Altec acquires Lift-All

Written by Alex Dahm - 13 Jan 2009

Boom truck and utility lift manufacturer Altec, Inc. in the US has acquired Lift-All, a Fort Wayne, Indiana-based competitor. Altec, which said the acquisition included Lift-All's products, manufacturing facilities and other assets, did not disclose the purchase price.

Lift-All manufactures utility vehicles, including material handlers, digger derricks, tree trimmers, insulated lifts and elevator units.

Around 100 people are employed at Fort Wayne and there are nearly 40 distributors in the US, Canada and Mexico. Altec said in early January it was undecided whether more people would be hired or if some would be let go. Further details of how it will integrate the two businesses are awaited but it is intended that all products will be brought under the Altec brand name.

"This acquisition provides Altec with a unique opportunity to broaden our product line and offer additional choice and value to our customers," said Lee Styslinger, Altec president and chief executive officer. "Lift-All has had a well-established reputation for producing reliable, quality products for nearly 30 years. Their equipment will be an excellent complement to Altec's products and services."

Altec, in Birmingham, Alabama, said it is the world's largest manufacturer of utility lifts, including boom trucks, and that it sells its equipment in more than 100 countries.

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