Press Release - Cascade Corporation To Acquire Lift-Tek
Cascade Corporation To Acquire Lift-Tek
PORTLAND, Oregon, USA (Sept 7, 2021) – Cascade Corporation, a major global manufacturer of forklift attachments, forks and related technologies, has entered into a share purchase agreement with the intent to acquire, following the clearance of the Transaction from the Austrian competition authority and satisfaction of other conditions to closing under the purchase agreement, mast manufacturer Lift Technologies, Inc (USA) and Lift-Tek Elecar S.p.A. (Italy) - more commonly known as Lift-Tek - from Calvi Holding S.p.A as wholly owned subsidiaries.
Lift-Tek is a major global manufacturer of masts, including models up to 52 tons, carriages, integral sideshifters and fork positioners. Their products are used on both electric and internal combustion (IC) forklifts, very narrow aisle forklifts, Automated Guided Vehicles (AGVs), telehandlers and more. Established in 1999, they are recognized by OEMs in the industry for high quality mast products and years of expertise in materials handling.
“As a respected manufacturer in the industry, Lift-Tek will be a great complement to the Cascade family,” says Davide Roncari, Cascade Corporation President and CEO. “As masts are an essential component of the forklift, the combination of their products with our attachments will allow us to offer customers combined solutions for those who require special customization.”
With manufacturing facilities located in Westminster, South Carolina, USA and Piacenza, Italy, Lift-Tek currently serves the US and European markets as well as international customers.
“We are very pleased to become a part of Cascade,” says Angelo Ceresa, President and CEO of Lift-Tek. “Together, with Cascade’s global footprint, we will be able to expand our reach and enhance customer options while continuing to provide the high quality products our customers have come to expect.”
Lift-Tek will continue normal operations as independent subsidiaries under Cascade Corporation ownership. For more product information, visit www.lift-tek.com.
About Cascade Corporation
Established in Portland, Ore. in 1943, Cascade Corporation is the global leader in the design, manufacturing and marketing of lift truck attachments, forks and related technologies and a leader in quality attachments for the construction industry. Cascade's unmatched service, support and expertise, combined with advanced damage reduction technologies, flexible manufacturing, short lead times and high-quality products, strengthen the company's position as the premier supplier to the material handling industry. For more information visit www.cascorp.com
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