Manitex International Signs Dealership Agreement With Bruckner’s Truck & Equipment in Support of Its North American PM Crane Sales Expansion

Rhea-AI Summary

Manitex International (NASDAQ: MNTX) has signed a North American dealership agreement with Bruckner's Truck & Equipment. This partnership aims to support Manitex's expansion of PM crane sales in North America. Bruckner's will sell and support Manitex's full product line, including PM articulating cranes, through its network of 40 support centers across eight states.

This collaboration aligns with Manitex's 'Elevating Excellence' growth strategy, significantly expanding the distribution of PM Group products in the Midwest and Southwestern United States. Bruckner's, a family-owned business since 1932, brings extensive experience in vocational truck applications and a sales support team of over 130 professionals.

Positive

• Expansion of distribution network for PM Group products in North America
• Partnership with an established dealer (Bruckner's) with 40 support centers across 8 states
• Alignment with Manitex's 'Elevating Excellence' growth strategy
• Potential for increased sales in Midwest and Southwestern United States

Negative

• None.

Insights

Market Research Analyst

This dealership agreement marks a strategic expansion for Manitex in the North American market. Bruckner's extensive network of 40 support centers across 8 states significantly enhances Manitex's distribution capabilities, particularly for their PM articulating cranes. This move aligns with Manitex's "Elevating Excellence" growth strategy, targeting underserved markets.

The partnership leverages Bruckner's strong reputation and 130+ sales professionals, potentially driving increased market penetration for Manitex's products. However, the real impact will depend on how well Bruckner's team adapts to selling and supporting Manitex's specialized equipment. The deal's success could lead to improved revenue streams and market share for Manitex in the medium to long term.

Financial Analyst

While specific financial terms aren't disclosed, this agreement could positively impact Manitex's top-line growth. The expanded distribution network might lead to increased sales volumes, particularly in the Midwest and Southwestern United States. Investors should monitor upcoming quarterly reports for signs of revenue acceleration in these regions.

It's worth noting that Manitex's strategy of expanding European product sales in North America could lead to improved profit margins if successful. However, the initial investment in training Bruckner's team and potential inventory adjustments might pressure short-term profitability. The long-term benefits of this expanded distribution network could outweigh these initial costs, potentially enhancing shareholder value over time.

BRIDGEVIEW, Ill.--(BUSINESS WIRE)-- Manitex International, Inc. (NASDAQ: MNTX), a leading international provider of truck cranes, specialized industrial equipment, and construction equipment rental solutions to infrastructure and construction markets, today announced a North American dealership agreement with Bruckner’s Truck & Equipment (“Bruckner’s”). Bruckner’s will sell and support the full line of Manitex equipment solutions in selected markets through their network of 40 support centers located across eight states, including PM articulating cranes.

Bruckner’s began operations in 1932 and has grown to become one of the leading service providers to the on-highway market across its key geographies. Bruckner’s has been family owned and operated for three generations from its headquarters in Amarillo, Texas, and now serves diverse industry end markets, including construction, concrete and energy, and is a main dealer for Volvo, Mack, Hino, Isuzu and Autocar in addition to many vocational truck body brands and accessories.

As an authorized dealer, Bruckner’s team will be certified to sell and support the full Manitex product line.

“In Bruckner’s, we are proud to have a new dealer partner of such high caliber with a first-class industry reputation,” said Michael Coffey, CEO Manitex International. “We are honored to work with this industry leader and encouraged that we share the same core values. Their deep industry experience in vocational truck applications makes them an ideal partner to expand the distribution of our PM Group portfolio of articulated truck crane products within North America, which is a key tenant of our Elevating Excellence growth strategy. With a sales support team exceeding 130 professionals, this partnership will significantly expand our distribution of PM Group products across Bruckner’s key markets in the Midwest and Southwestern United States. The appointment of Bruckner’s also deepens our distribution of Manitex aerial work platforms and boom trucks in these attractive growth geographies.”

“The addition of the Manitex product lines to our portfolio of industry leading products is a major opportunity for Bruckner’s Truck & Equipment along with our subsidiary, BTE Body Co,” said Brian Bruckner, President, Bruckner Truck & Equipment. “We recognize the superior quality and innovation of Manitex cranes that we are partnering to represent to customers across the Southwest. Their products will be a great benefit for our customers.”

Manitex continues to pursue other dealer appointments to address under-served markets in North America, a key aspect of the Company’s strategy to expand the sale of European products within North America.

About Manitex International, Inc.

Manitex International, Inc. is a leading worldwide provider of highly engineered mobile cranes (truck mounted straight-mast and knuckle boom cranes, industrial cranes, truck mounted aerial work platforms and specialized industrial equipment. Our products, which are manufactured in facilities located in the USA and Europe, are targeted to selected niche markets where their unique designs and engineering excellence fill the needs of our customers and provide a competitive advantage. Our brands include Manitex, PM, Oil & Steel, Valla and Rabern Rentals.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240823087398/en/

IR CONTACT

Paul Bartolai or Noel Ryan

MNTX@val-adv.com

Source: Manitex International, Inc.

FAQ

What is the new dealership agreement Manitex International (MNTX) has signed?

Manitex International (MNTX) has signed a North American dealership agreement with Bruckner's Truck & Equipment to sell and support Manitex's full product line, including PM articulating cranes, through Bruckner's network of 40 support centers across eight states.

How does the Bruckner's partnership support Manitex's (MNTX) growth strategy?

The partnership with Bruckner's supports Manitex's 'Elevating Excellence' growth strategy by expanding the distribution of PM Group products in the Midwest and Southwestern United States, potentially increasing sales in these regions.

What products will Bruckner's be selling for Manitex International (MNTX)?

Bruckner's will be selling and supporting the full line of Manitex equipment solutions, including PM articulating cranes, aerial work platforms, and boom trucks in their selected markets.

How many support centers does Bruckner's have for selling Manitex (MNTX) products?

Bruckner's has a network of 40 support centers located across eight states that will be used to sell and support Manitex (MNTX) products.