Skyjack Finalizes Acquisition of Carelift

August 24, 2007 • Guelph, Ontario-based Skyjack Inc., a Linamar Company, recently announced it has finalized its purchase agreement and acquired telehandler manufacturer Carelift Equipment Limited based in Breslau, Ontario. Earlier this month, Linamar announced it had an interest in acquiring the Carelift business by signing a purchase agreement. The deal to acquire Carelift, a local telehandler business, was signed on Wednesday.

The Carelift business complements Linamar's Skyjack business, which currently produces aerial work platforms for the industrial market. The acquisition allows the company to capitalize on a new model of aerial work platforms, the ZoomBoom. The telehandlers will enhance Linamar's industrial business, Skyjack Inc., an already successful brand for the company, popular for its scissor lifts and recently launched boom lifts.

 

“We are thrilled to add Carelift to our portfolio and build on the success we have had in the industrial market,” said Linda Hasenfratz, Linamar CEO. “We have seen tremendous growth in demand for our Skyjack products and feel there is great sales potential in leveraging our existing expertise to add a new model to our already successful line of aerial work platforms.”

 

Linamar will continue the current lease on the existing Carelift site in Breslau and retain the company's existing 60 employees. The long-term plan is to accommodate the telehandler business at Skyjack, as it will be structured under Linamar's industrial group and managed by the Skyjack team. Financial details regarding the transaction will be reviewed in the company's next quarterly conference call in November.