Manitou acquires TEPL from Terex Corp

By Euan Youdale31 March 2017

Manitou no caption

The Manitou group has acquired Terex Equipment Private (TEPL) based in Greater Noïda, India. This acquisition, from Terex Corporation, will be finalised during the first half of 2017.

Founded in 2003, TEPL specialises in the design, manufacturing and distribution of construction equipment, mainly backhoe loaders and skid steers.

It achieved a €30 million revenue in 2016, mostly in Southern Asia. Manitou Group said the deal reinforces its ambitions in the handling market in India and, on a broader level, in Asia and emerging countries. It means Manitou will have a well-established company in India supported by a structured dealership network and a solid service organisation.

Michel Denis, president & CEO of Manitou Group, said, "This acquisition perfectly fits our strategy to reinforce our presence on emerging markets. TEPL has a solid dealer network which we will continue to further develop. TEPL produces high-quality products with a very efficient spare parts and service organization, and will be a strong industrial base for Manitou Group to develop new product ranges for Asia and emerging countries".

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, Access International Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Rental rate rises assist Sunbelt to pre-Covid revenue levels
Sunbelt Rentals’ first quarter revenue up 22% on 2020 and 12% on 2019, partly thanks to increasing rental rates
Platformers’ Days marks successful return to live events
Specialist access and lifting equipment trade fair in Germany draws crowds of over 2,000
Peri launches digital concrete monitoring kit
Temperature Monitoring and Concrete Maturity Kit takes temperature readings from different points in concrete
CONNECT WITH THE TEAM
Euan Youdale Editor, Access International Tel: +44 (0)1892 786 214 E-mail: euan.youdale@khl.com
Ollie Hodges Sales Manager Tel: +44 (0)1892 786253 E-mail: ollie.hodges@khl.com
CONNECT WITH SOCIAL MEDIA