The Manitowoc Company Expands its Direct-to-Customer Footprint in Georgia, North Carolina, and South Carolina
Manitowoc Company (NYSE: MTW), a global manufacturer of cranes and lifting solutions, has announced the completion of an acquisition of certain crane assets from Ring Power through its subsidiary MGX Equipment Services, The strategic move expands Manitowoc's direct-to-customer presence in Georgia, North Carolina, and South Carolina.
Through this acquisition, MGX will provide new and used crane sales, aftermarket parts, service, and remanufacturing support to various end market customers in these territories. Ring Power will maintain its facilities in these states for utility and vocational truck operations while continuing to operate its crane business in Florida, representing Grove, Manitowoc, and National Crane products.
Manitowoc Company (NYSE: MTW), un produttore globale di gru e soluzioni di sollevamento, ha annunciato il completamento di un'acquisizione di alcuni beni legati alle gru da Ring Power tramite la sua sussidiaria MGX Equipment Services. Questa mossa strategica amplia la presenza diretta di Manitowoc verso i clienti in Georgia, Carolina del Nord e Carolina del Sud.
Attraverso questa acquisizione, MGX fornirà vendite di gru nuove e usate, parti di ricambio, assistenza e supporto alla rimessa in funzione a vari clienti di diversi mercati in questi territori. Ring Power manterrà le sue strutture in questi stati per le operazioni con camion utilitari e professionali, continuando a gestire il suo business di gru in Florida, rappresentando i prodotti Grove, Manitowoc e National Crane.
Manitowoc Company (NYSE: MTW), un fabricante global de grúas y soluciones de elevación, ha anunciado la finalización de la adquisición de ciertos activos de grúas de Ring Power a través de su subsidiaria MGX Equipment Services. Este movimiento estratégico amplía la presencia directa de Manitowoc frente a los clientes en Georgia, Carolina del Norte y Carolina del Sur.
A través de esta adquisición, MGX proporcionará ventas de grúas nuevas y usadas, piezas de repuesto, servicio y soporte de reacondicionamiento a varios clientes en estos territorios. Ring Power mantendrá sus instalaciones en estos estados para operaciones de camiones utilitarios y vocacionales, mientras continúa operando su negocio de grúas en Florida, representando los productos Grove, Manitowoc y National Crane.
마니토왁 회사 (NYSE: MTW), 글로벌 크레인 및 리프팅 솔루션 제조업체가 링 파워에서 특정 크레인 자산을 MGX 장비 서비스라는 자회사를 통해 인수 완료를 발표했습니다. 이 전략적 움직임은 마니토왁의 고객 직접 판매를 조지아, 노스캐롤라이나 및 사우스캐롤라이나로 확대합니다.
이번 인수를 통해 MGX는 새로운 및 중고 크레인 판매, 애프터마켓 부품, 서비스 및 재제조 지원을 해당 지역의 다양한 최종 시장 고객에게 제공합니다. 링 파워는 이러한 주에서 유틸리티 및 직업용 트럭 운영을 위한 시설을 유지하면서 플로리다에서 Grove, Manitowoc 및 National Crane 제품을 대표하는 크레인 사업을 계속 운영합니다.
Manitowoc Company (NYSE: MTW), un fabricant mondial de grues et de solutions de levage, a annoncé l'achèvement d'une acquisition d'actifs de grues provenant de Ring Power via sa filiale MGX Equipment Services. Ce mouvement stratégique élargit la présence directe de Manitowoc auprès des clients en Géorgie, Caroline du Nord et Caroline du Sud.
Grâce à cette acquisition, MGX proposera des ventes de grues neuves et d'occasion, des pièces de rechange, un service et un soutien à la remise à neuf pour divers clients sur ces territoires. Ring Power conservera ses installations dans ces États pour les opérations de camions utilitaires et professionnels tout en continuant à exploiter son activité de grues en Floride, en représentant les produits Grove, Manitowoc et National Crane.
Manitowoc Company (NYSE: MTW), ein globaler Hersteller von Kränen und Hebelösungen, hat den Abschluss einer Übernahme bestimmter Krananlagen von Ring Power durch seine Tochtergesellschaft MGX Equipment Services bekannt gegeben. Dieser strategische Schritt erweitert die direkte Kundenpräsenz von Manitowoc in Georgia, North Carolina und South Carolina.
Durch diese Übernahme wird MGX neue und gebrauchte Kräne verkaufen, Ersatzteile anbieten, Service und Remanufacturing-Unterstützung für verschiedene Endkunden in diesen Gebieten bereitstellen. Ring Power wird seine Einrichtungen in diesen Bundesstaaten für die Betrieb von Utility- und Berufstrucks beibehalten, während das Unternehmen weiterhin sein Kran-Geschäft in Florida betreibt, das Grove-, Manitowoc- und National Crane-Produkte vertreibt.
- Expansion of direct-to-customer presence in three states
- Acquisition includes new revenue streams: sales, parts, service, and remanufacturing
- Strategic enhancement of regional market coverage
- None.
Insights
This strategic acquisition marks a significant shift in Manitowoc's distribution strategy, positioning the company for enhanced market penetration in the southeastern United States. Through MGX Equipment Services, Manitowoc gains direct control over sales, aftermarket services and remanufacturing operations in three key states, potentially improving margins by eliminating intermediary costs.
The timing is particularly noteworthy given the infrastructure spending initiatives and construction activity in the Southeast region. Georgia, North Carolina and South Carolina represent robust markets with significant construction and development projects, including data centers, manufacturing facilities and infrastructure improvements. Direct market presence in these territories could accelerate Manitowoc's ability to capture emerging opportunities.
The deal structure demonstrates strategic sophistication by:
- Maintaining Ring Power as a dealer in Florida, preserving an important relationship while expanding direct operations
- Acquiring specific crane assets rather than complete operations, allowing for targeted integration
- Expanding aftermarket services capabilities, which typically generate higher margins than equipment sales
- Creating potential for improved inventory management and more efficient capital allocation
This move aligns with broader industry trends where manufacturers are seeking greater control over customer relationships and service delivery. The direct-to-customer model could provide Manitowoc with valuable market intelligence and faster response times to customer needs, while potentially improving profitability through vertical integration.
About The Manitowoc Company, Inc.
The Manitowoc Company, Inc. was founded in 1902 and has over a 120-year tradition of providing high-quality, customer-focused products and support services to its markets. Manitowoc is one of the world's leading providers of engineered lifting solutions. Manitowoc, through its wholly-owned subsidiaries, designs, manufactures, markets, and supports comprehensive product lines of mobile hydraulic cranes, lattice-boom crawler cranes, boom trucks, and tower cranes under the Aspen Equipment, Grove, Manitowoc, MGX Equipment Services, National Crane, Potain, and Shuttlelift brand names.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250204648013/en/
Ion Warner
Senior Vice President Marketing & Investor Relations
+1 414-760-4805
ion.warner@manitowoc.com
Source: The Manitowoc Company, Inc.
FAQ
What territories did Manitowoc (MTW) acquire from Ring Power in the recent acquisition?
What services will MGX Equipment Services provide in the newly acquired territories?
Will Ring Power continue any operations after the Manitowoc (MTW) acquisition?
Which crane brands will Ring Power continue to represent in Florida?
