Wolffkran Tower Crane Case

Tower crane manufacturer Wolffkran has acquired UK rental company and Wolffkran distributor HTC Plant from owner PC Harrington. The deal, for an undisclosed sum, was signed on 14 May and includes the fleet of more than 200 Wolff tower cranes, mostly luffers, and the 370-strong workforce will be retained, Peter Schiefer, Wolffkran owner told.
The acquisition coincides with HTC’s 40th Anniversary as Wolffkran dealer for the UK. HTC Plant has a turnover of more than £40 million (US$ 60 million) and will now be known as HTC Wolffkran Ltd. Others in the running for the acquisition were all investment groups, Schiefer said. Dave Holder, HTC managing director, said, “Wolffkran has been the tower crane manufacturer of our choice for decades. Its reliable and state of the art cranes are the ideal fit for our 'be the best' culture. Becoming a fully integrated part of the Wolff family fills us with pride and confidence.”
For HTC customers a seamless transition is envisaged and it will be “business as usual.” Development plans include new Wolff tower cranes joining the fleet, both as replacements to update it and also additional units for expansion. Adding the HTC fleet to Wolffkran's existing rental park extends the total to more
We took the difficult decision and considered a sale as the best option. Reco Holding BV is an extremely reputable and well thought of hoist business, active in mainland Europe, who have wanted a UK operation for some time. This is a very good fit for them and a good deal for both parties. It gives RECO a ready made hoist operation in the UK and enables HTC to concentrate more actively on its core crane hire business, which is experiencing strong