ALE will now be integrated into Mammoet and the enlarged company will operating under the Mammoet brand.
Terms of the deal have still not been disclosed although Michael Birch, previously one of the major shareholders and boss of ALE, has secured a seat on Mammoet’s executive board.
The takeover deal was agreed back in July 2019 and has taken six months to complete. Despite it representing a merger of two of Europe’s three dominant heavylift specialists – the third being Sarens of Belgium – the deal appears to have avoided close scrutiny from the competition authorities.
Mammoet chief executive Paul van Gelder said: “We are looking forward to working together with our new colleagues all over the world and establishing long term relationships with our customers, existing and new. We will put all our efforts into supporting them with their activities aimed at enhancing cities, businesses and communities that are all part of the transition to a more sustainable future. As their goals increase in size and complexity, we must reshape ourselves to support them while keeping our primary focus on safety.”
In the year to 31st March 2019 ALE grew its turnover by 33% to £250m but with administrative expenses rising by £10m its profit before tax for the year collapsed to £280,000 form £11.0m the previous year. ALE’s accounts show a final loss for the year of £7.7m after tax and the impact of discontinued operations.