Calvi Holding sells to Cascade Corporation (Toyota) the American mast manufacturer Lift Technologies, Inc. and the Italian Lift-Tek Elecar Spa, also known as Lift-Tek. Global investment bank Houlihan Lokey acted as financial advisor to Calvi, with the team composed by Pietro Braicovich, Marco Mezzadri and Andrea Mainetti. Lift-Tek will continue normal operations as an independent subsidiary under the ownership of Cascade Corporation.
The two subsidiaries - reads a note - are one of the main global manufacturers of masts, including models in configurations from 1 to 5 extensions, which allow to reach a height of 15 meters and to lift from 1 to 52 tons. The operation and movement takes place with hydraulic cylinders, designed and produced internally.
Lift-Tek, founded in 1999, is recognized by industry OEMs for its high quality mast products and years of material handling experience. With the two production sites in Castel San Giovanni (Piacenza) and Westminster South Carolina (USA), Lift-Tek Elecar addresses the world's leading manufacturers of forklift trucks and platforms for moving goods
“We look forward to tackling this new chapter in our company's history – he said Angelo Ceresa, member of the board of directors of Lift-Tek Elecar SpA -.-. We believe that the collaboration with Cascade brings excellent new potential to our operations and that our customers will greatly benefit from this development.”
David Roncari, President and CEO of Cascade Corporation, added, “Lift-Tek's reputation for its quality products makes them a natural fit for the Cascade family,” said Davide Roncari, President and CEO of Cascade Corporation. "Together, we will be able to provide improved options for those customers who need specialized, integrated shaft/socket solutions."
