Nordic Crane acquires TO Bull’s mobile crane business
18 March 2011On January 1, the Scandinavian mobile crane firm Nordic Crane Group acquired the mobile crane business of one of Norway’s largest crane companies, TO Bull.
TO Bull’s clients, mostly from the construction, petroleum, wind power and transport industries, will be transferred to Nordic Crane. It will uphold all existing contracts.
The takeover added 190 employees to Nordic Cranes’ workforce, increasing the total number to 700 and added 160 units, including mobile cranes and lorry-mounted cranes, to its fleet.
100% of the assets of TO Bull, Oslo Kranserice and Norsk Kranlift operations were transferred, among the six branches of TO Bull Transport og Kranservices involved in the transaction.
The concrete pump business was not included in the takeover, but Tom Ola Bull transferred it to a newly created company called TO Bull Betonpumping, of which Trond Helge Skretting is the new managing director.
Nordic Crane estimates that the new assets will expand its turnover to more than NOK1bn and place it in the same arena as larger multinationals.
