Konecranes acquires German Kocks Kranbau to expand port services
Lifting equipment manufacturer Konecranes has acquired the business of German crane and service supplier Kocks Kranbau, enhancing its presence in port services across Europe and globally.
Konecranes Oyj, a global leader in lifting equipment, has acquired the business operations of German crane and service provider Kocks Kranbau GmbH. The financial terms of the acquisition, which closed in April, were not disclosed. This move is set to bolster Konecranes' port services offering in Europe and on a worldwide scale.
Kocks Kranbau, established in early 2023 following the insolvency of its parent company Kocks Ardelt Kranbau GmbH, specializes in cranes and services for the port and shipyard industry. The acquisition brings approximately 60 employees into the Konecranes fold and grants access to a significant installed base of Kocks Ardelt cranes in Germany, Europe, and internationally.
The acquired business generated annual net sales of approximately EUR 10-12 million in recent years and has been profitable. This expansion is expected to broaden Konecranes' customer base and enhance its capabilities to serve the evolving needs of the port sector.
"I am confident that Kocks Kranbau’s expertise and customer proximity, when combined with Konecranes Port Services’ widespread presence, industry knowledge and technology, will strengthen our position and offering as global services provider in the port sector," stated Paolo Dazi, Senior Vice President Port Services at Konecranes.
Konecranes provides material handling solutions to a wide range of customers across various industries. The acquisition aligns with the company's strategy to strengthen its global market presence and service capabilities.