Hiab to acquire US demountables manufacturer Galfab
3 September 2021Hiab, part of Cargotec, has entered into an agreement to acquire US demountables manufacturer Galfab, which makes roll-off hoists and related equipment for the domestic waste industry. The acquisition broadens Hiab’s demountable portfolio while Galfab’s equipment will be included in Hiab’s nationwide US sales and service network.
Galfab is a designer and manufacturer of waste equipment of all types, known for its roll-off hoist, a cable lift. The company was launched in 1992 by the Galbreath family and apart from the legendary hoist designed by Don Galbreath, it offers other products including compactors, containers and self-dumping hoppers. Its headquarter and main manufacturing site is in Winamac, Indiana, but Galfab also has two sites in Phoenix, Arizona, and Houston, Texas, employing around 100 people.
“This is great news for new and existing customers. Galfab’s portfolio including the famous roll-off hoist will be integrated into Hiab’s US nationwide sales and service network. Together we are the second largest provider of demountables in the waste and recycling industry in the US. Galfab’s product portfolio including the popular roll-off-hoist is complementary to our offering and will help to introduce Multilift products to new customers,” said Pauliina Kunvik, senior VP, Demountables, Forestry & Recycling Cranes, Hiab.
Galfab will become part of Hiab’s Demountables, Forestry & Recycling Cranes division. The division includes hooklift and skiploader demountables sold under the Multilift brand, as well as Jonsered recycling cranes, known as material handlers in the US, and Loglift forestry cranes.
“Hiab US is excited to be working with the team at Galfab. Together we will expand the new product and services offering to the customers, strengthening our position in the industry. We see many opportunities to grow the US business with Galfab and Hiab products together, supported by our nationwide sales and service network,” said James Oreck, VP, sales & services, North America, Hiab.
Galfab is owned by its employees and Mosaic Capital Partners, LLC.
The acquisition expands Hiab’s US manufacturing footprint that previously included the multi-assembly unit for Waltco tail lifts in Streetsboro, Ohio.
The acquisition is subject to passing the approval process of sellers and Hiab. Closing is expected to take place during Q3 2021.
