Raimondi expands heavy lifting portfolio with Terex cranes acquisition

Raimondi Cranes, an Italian manufacturer of heavy lifting solutions, has entered into a definitive agreement to acquire key lifting businesses from the U.S.-based Terex Corporation.

Operating under the umbrella of Arada Industries, which is owned by Arada Group, Raimondi Cranes is set to acquire Terex Tower Cranes, Terex Self-Erecting Cranes, and Terex Rough Terrain Cranes, alongside its U.S.-based after-sales and service infrastructure. 

Expanding Raimondi's global business 

This transaction broadens Raimondi's offerings in terms of luffing jib cranes and tower cranes, while expanding the company's scope to include new business lines, such as self-erecting and rough terrain cranes. The step also fuels Raimondi's growth strategy and unlocks access to an extensive global distribution network, enhancing shareholder confidence and elevating the contractor experience through expanded capabilities.

This acquisition, which will see around 250 employees join Raimondi Group, is part of a wider development plan aimed at capturing a larger share of the global heavy lifting sector. It combines Raimondi's Italian engineering history with Terex's innovative applications, offering clients a comprehensive and competitive product lineup designed to meet the evolving demands of the construction and heavy lifting sectors. 

Included in the transaction are the Terex Tower Cranes and Terex Self-Erecting Cranes facilities in Fontanafredda, Italy, Terex Rough Terrain Cranes facility in Crespellano, Italy, and the Terex North America Cranes service and support operation in Wilmington, North Carolina, United States.

New manufacturing and optimization possibilities 

In addition to its expanded product portfolio, the acquisition provides Raimondi with significant operational advantages. By leveraging enhanced manufacturing capabilities, optimizing product segmentation, and streamlining procurement processes, the company aims to achieve economies of scale and further strengthen its market position. 

Additionally, the integration of Terex's established North American infrastructure accelerates Raimondi's entry into this dynamic and high-potential market, enabling the company to serve one of the largest construction sectors globally while reinforcing its leadership in Europe and the Middle East.

Raimondi is committed to ensuring a seamless integration process, prioritizing continuity for Terex employees and contractors while elevating the overall experience through expanded resources and capabilities. The combined entity, which will bring Raimondi's total workforce to approximately 400 employees, will focus on delivering solutions to the most demanding lifting requirements, further cementing its position as a trusted partner in the industry. Raimondi Cranes is poised to drive long-term value and is targeting annual revenue of $500 million from its global operations by 2028. 

Luigi Maggioni, chief executive officer of Raimondi Group, said: "This transformative move, recognized as the most impactful deal in the industry over the past 20 years, marks the most significant acquisition in Raimondi's history, representing a milestone into our journey to become a full-fledged global lifting conglomerate. As market leaders in their segments, Terex Tower Cranes, Terex Self-erecting Crane, and Terex Rough Terrain Cranes along with their U.S.-based service hub, will enable Raimondi to take its first major step toward diversification. By integrating Terex's range of tower and rough terrain cranes, we are creating synergies that enhance our ability to deliver a broader range of lifting solutions, paving the way for sustainable, accelerated growth." 

"We are pleased to enter into this agreement with Raimondi, a manufacturer of cranes that is widely recognized for product innovation and customer service. We believe the Tower and Rough Terrain cranes businesses will benefit by becoming part of an Italian-based, global specialty crane company," commented Simon Meester, president and chief executive officer, at Terex Corporation. 

Meester continued: "During the transition to Raimondi, our team is committed to servicing and supporting our customers seamlessly. Terex is working closely with Raimondi to support the team and manage the change with transparency and respect for everyone involved. Our cranes team members in Italy have made substantial contributions throughout their years of service to the Company, and we thank them and wish them continued success in the future."