Kalmar has agreed to sell its rough terrain handling business to a Texas-based investment group, led by Independent Bankers Capital Funds (IBCF) and Congruent Investment Partners, LLC (Congruent).
Kalmar Rough Terrain Center (KRTC) is a specialised manufacturer of rough terrain material handling equipment for both the defense and commercial markets.
It is also a manufacturer and distributor of parts and a service provider to existing equipment.
Antti Kaunonen, president of Kalmar, said: “This transaction follows Kalmar’s strategy to focus on container ports, heavy industry and distribution segments. The rough terrain handling business is outside these core areas.
“Furthermore, KRTC operates to a large extent as a stand-alone business with limited synergies with the rest of Kalmar.”
KRTC’s portfolio includes a rough terrain container handler and a rough terrain forklift that are specially built to military standards.
It is headquartered in Cibolo, Texas, US, and its facility includes four buildings on 13.3 acres.
Stephen Speakes, President and CEO, KRTC, said: “After a strong period of ownership by Kalmar, we are thrilled to begin our next chapter as an independently owned and operated small business, based in Cibolo, Texas.
“The combination of our operating strengths in rough terrain with their broad industry expertise and strong financial backing will allow the company to maintain a robust core base while aggressively pursuing growth opportunities.”