August 15, 2007, Guelph, Ontario – Skyjack Inc., a Linamar Company (LNR:TSX), today announced the signing of a Share Purchase Agreement regarding the purchase, by Skyjack, of CareLift Equipment Limited, a manufacturer of telehandlers located in Breslau, Ontario Canada.
Skyjack is interested in the CareLift business as it complements the mobile industrial products business of scissor and boom lifts already produced by the company. This acquisition further expands Skyjack's product offering and distinguishes Skyjack as a full line supplier to the equipment rental business.
"The addition of CareLift’s telehandler business along with the design and test abilities of the company opens up another large market for our Skyjack business," said Linda Hasenfratz, Linamar Corporation CEO. "The global telehandler market is worth $3 billion and growing. CareLift's popular ZoomBoom brand is well positioned to increase market share by utilizing Skyjack's well established distribution network."
CareLift designs and builds durable, dependable rough terrain forklifts. Their telehandler product has advanced reach and can reach heights from 32 to 56 feet. regarded in the industry for high quality and reliability, which aligns with Skyjack's existing product design principles.
The proposed transaction is subject to, among other things, further due diligence.
