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Hiab Acquires Galfab
Galfab will become part of Hiab’s Demountables, Forestry & Recycling Cranes division.
Hiab Broadens Demountable Portfolio with Galfab's Equipment
Hiab, part of Cargotec, has entered into an agreement to acquire the 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 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.
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.