Cargotec Corporation has announced a deal to sell its MacGregor business to funds managed by Triton for an enterprise value of €480 million.
The deal is part of a wider transformation project that includes listing Kalmar as a separate company, leaving the company’s Hiab division as it’s sole remaining business. Cargotec will then be renamed Hiab going forward if all board proposals are accepted by shareholders.
Closing of the transaction is expected to occur by 1 July 2025.
MacGregor is a provider of maritime cargo and load handling systems and software, recording sales of €733 million in 2023 with an operating profit of €33 million.
Triton is a European mid-market sector-specialist investor, focused on investing in businesses that provide goods and services in its three core sectors of business services, industrial tech, and healthcare.
“MacGregor stands out due to its engineering capabilities; broad and sustainable product offering; high-quality equipment; and strong reputation,” says Ilkka Tuominen, Investment Advisory Professional at Triton.
“Triton looks forward to collaborating with the company and its employees to develop further on this market leading position especially by strengthening the aftermarket platform where we see great potential. MacGregor is at the core of Triton’s investment focus to acquire market leading companies with strong potential and a competitive edge.”
