Super Steel has acquired Indiana-based Manitex’s Sabre site for $1.5mn cash plus a royalty agreement based on the plant’s future revenues that could give an additional $2.9mn to Manitex through this deal.

 

Manitex seeks to focus on the crane business and therefore decided to divest from Sabre’s specialty manufactured steel storage tank products, which are a better fit within Super Steel’s product line. Sabre’s production is expected to be integrated into the latter’s Wisconsin facility.

 

The Milwaukee-based company is a contract manufacturer serving heavy industries such as agriculture and construction. Manitex International, Sabre’s parent company, is a provider of cranes and specialized industrial equipment. Manitex acquired Sabre for $14mn in 2013.

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