Palfinger Invests €120 Million to Acquire Majority Stake in Slovenia-based Energy and Marine Equipment Manufacturer, Roto

Palfinger, a leading provider of lifting, loading and handling solutions, has agreed to acquire a 70% majority stake in Roto, a Slovenia-based manufacturer of marine and energy industry equipment. The deal is valued at €120 million and is expected to close in the first quarter of 2023.

Palfinger's acquisition of Roto is a strategic move that will strengthen its position in the growing marine and energy sectors. Roto has a strong reputation for innovation and quality, and its products are used by customers around the world. The acquisition will also give Palfinger access to Roto's global distribution network.

Roto's product portfolio includes deck equipment, offshore cranes, and marine access systems. The company also has a strong presence in the energy sector, providing equipment for the oil and gas industry.

Palfinger's acquisition of Roto is expected to create a global leader in the marine and energy equipment market. The combined company will have a strong product portfolio, a global distribution network, and a talented workforce.

Palfinger's CEO, Andreas Klauser, said that the acquisition of Roto is a "perfect fit" for Palfinger. "Roto is a leading provider of marine and energy equipment, and their products are highly complementary to our own," Klauser said. "This acquisition will strengthen our position in these growing markets and will give us access to Roto's global distribution network."

Roto's CEO, Janez Škrlep, said that he is "proud" to join forces with Palfinger. "Palfinger is a global leader in the lifting, loading and handling industry, and we are excited to become part of their team," Škrlep said. "We believe that this acquisition will create a global leader in the marine and energy equipment market, and we look forward to working with Palfinger to achieve our shared goals."

The acquisition of Roto is the latest in a series of strategic moves by Palfinger to expand its global reach and product portfolio. In recent years, Palfinger has acquired a number of companies, including the US-based manufacturer JLG Industries and the German-based manufacturer SANY Group. These acquisitions have helped Palfinger to become one of the leading providers of lifting, loading and handling solutions in the world.