Cargotec’s MacGregor has entered into an agreement to acquire privately owned Hatlapa Group, merchant ship and offshore deck equipment provider, for an enterprise value of €160 million. Hatlapa’s main products are a wide range of winches, steering gears, compressors, multi-deck-handler cranes, and other winch related handling equipment. The company’s service business includes spare parts, maintenance, refurbishment and training. By acquiring Hatlapa, Cargotec will strengthen MacGregor’s portfolio and market position and become a global leader in winches.
Hatlapa was founded in 1919 and is headquartered in Uetersen, Germany. Today, the company has 585 employees of which the majority is located in Germany, Norway and Asia. Its sales are expected to be around €120 million in 2013.
The company has production facilities in Germany and Norway for manufacturing strategically important components and products, but approximately two thirds of the production is outsourced to third parties.
“This acquisition is an important step in executing MacGregor’s growth strategy and providing customer-focused solutions in both merchant shipping and offshore segments. The markets are consolidating and MacGregor wants to take an active part in this development. Hatlapa complements MacGregor’s present offering and Hatlapa’s strong position in winches will make us a leading player in global winch markets. We see a significant growth potential in offshore and are now better equipped to grasp those opportunities. Hatlapa has an excellent management with pioneering attitude similar to MacGregor. Together we make a strong team with good results. Hatlapa also provides excellent opportunities within services,” says Mikael Mäkinen, President, MacGregor.