Alimak Group AB (publ) (OM:ALIG) entered into an agreement to acquire Tall Crane Equipment LTD for CAD 40 million on July 18, 2022.The purchase price amounts to approximately CAD 27 million on a cash and debt-free basis. In addition to the fixed purchase price paid upon access, the seller may receive a condition-based additional purchase price (earn-out) of a maximum of approximately CAD 13 million based on fulfilment of certain performance goals regarding sales and profit. Tall Crane Equipment's revenue in the last yearly closing amounted to approximately CAD 16 million.

Closing of the transaction is expected to take place during the third quarter 2022.