Hiab strengthens South American footprint with strategic purchase of ING Cranes

Hiab strengthens South American footprint with strategic purchase of ING Cranes

(IN BRIEF) Hiab has signed an agreement to acquire Brazilian crane manufacturer ING Cranes, a deal that significantly reinforces its presence in the Brazilian loader crane market. ING Cranes, founded in 2010 and generating about EUR 50 million in 2024 sales, brings 250 employees and a strong record of profitable growth. Hiab CEO Scott Phillips stated that the acquisition supports the company’s long-term strategy and will increase market reach and customer value. The added product portfolio increases Hiab’s ability to offer a full line of loader cranes across heavy-duty, agricultural, rental, construction and transport industries in Brazil. VP Marcel Boxem said the deal combines Hiab’s global capacity with ING Cranes’ strong local presence, positioning the company to become a leading crane provider in the country. The transaction is expected to close in early 2026 pending customary conditions, with no purchase price disclosed.

(PRESS RELEASE) HELSINKI, 26-Nov-2025 — /EuropaWire/ — Hiab, has reached an agreement to acquire ING Cranes, one of Brazil’s leading crane manufacturers, marking a major step in strengthening Hiab’s footprint in South America’s largest economy. The acquisition deepens Hiab’s position in the Brazilian loader crane market and broadens its product offering in a region where demand for heavy-duty load handling continues to grow.

Established in 2010, ING Cranes generated approximately EUR 50 million in sales in 2024 and today employs around 250 people. Over the past 15 years, it has built a strong reputation for quality and steady, profitable expansion — factors that contributed to Hiab’s strategic decision to acquire the company.

Scott Phillips, President and CEO of Hiab, said the move supports the company’s long-term growth ambitions and will accelerate its presence in key markets.
“This acquisition is a natural evolution of Hiab’s growth trajectory. ING Cranes has shown consistent profitable performance, and by combining strengths we expect to enhance market reach while delivering even greater value for customers and stakeholders,” Phillips commented.

According to Marcel Boxem, VP Sales & Product Management, Hiab Loader Cranes, Heavy and Superheavy, the two companies complement each other exceptionally well.
“Bringing ING Cranes’ local knowledge together with Hiab’s global scale and technology strengthens our offering enormously. This positions Hiab to become the leading provider of loader cranes in Brazil.”

With the addition of ING Cranes’ portfolio, Hiab will be able to supply a complete range of loader cranes — from light to heavy-duty configurations — increasing relevance across key sectors such as agriculture, construction, transportation and equipment rental. The transaction reflects Hiab’s strategy of expanding both organically and through acquisition to meet growing industry needs.

The acquisition remains subject to standard regulatory approvals, and completion is anticipated in early 2026. The companies have agreed not to disclose the purchase price.

For further information, please contact:
Birgitte Skade, Executive Vice President, Marketing and Communications
Email: birgitte.skade@hiab.com
tel. +358 20 777 4000

Further information for investors:
Aki Vesikallio, Vice President, Investor Relations,
tel. +358 40 729 1670

Hiab (Nasdaq Helsinki: HIAB) is a leading provider of smart and sustainable on road load-handling solutions, committed to delivering the best customer experience every day with the most engaged people and partners. Globally, Hiab is represented on every continent through its extensive network of 3,000 own and partner sales and service locations, enabling delivery to over 100 countries. The company’s continuing operations sales in 2024 totalled approximately EUR 1.6 billion and it employs over 4,000 people. www.hiabgroup.com

SOURCE: Hiab Corporation