Raimondi Cranes is taking over the tower cranes, self-erecting cranes and rough terrain cranes that Terex manufactures, along with the US support operation in Wilmington, North Carolina, the historic home of American Crane.
The legacy brands that Milan-based Raimondi is taking over are Comedil tower cranes, Ferro self-erecting cranes and Bendini rough terrain mobile cranes 鈥� all Italian models, of which the most familiar in the UK is Comedil as it has long been represented here by Laing O鈥橰ourke subsidiary Select.
Founded by Rodolfo Raimondi in 1983, Raimondi Cranes has been owned by Saudi prince Khaled bin Alwaleed bin Talal since 2014.
Terex has gradually been disposing of its crane interests in recent years. It sold its German crane manufacturing business, Demag (also including the legacy of PPM of France), to Tadano of Japan in 2019. And in the same year it sold its US crane business 鈥� founded on the legacy brands of P&H, Lorain, Stinger and RO 鈥� to trailer maker Load King.
Terex鈥檚 only remaining crane business is now Franna, a pick & carry model made in Australia and rarely 聽seen outside of its natural habitat.
The acquisition not only broadens Raimondi鈥檚 tower crane line but adds a limited range of mobile rough terrain cranes to its portfolio.
Luigi Maggioni, chief executive of Raimondi Group, said: 鈥淭his transformative move, recognised as the most impactful deal in the industry over the past 20 years [sic], marks the most significant acquisition in Raimondi鈥檚 history, representing a milestone into our journey to become a full-fledged global lifting conglomerate. As market leaders in their segments, Terex tower cranes, Terex self-erecting Crane, and Terex rough terrain cranes along with their US-based service hub, will enable Raimondi to take its first major step toward diversification. By integrating Terex鈥檚 range of tower and rough terrain cranes, we are creating synergies that enhance our ability to deliver a broader range of lifting solutions, paving the way for sustainable, accelerated growth.鈥�
Around 250 Terex employees will join Raimondi Group from facilities in Fontanafredda and Crespellano in Italy and Wilmington, North Carolina in the USA. The combined entity will bring Raimondi鈥檚 total workforce to approximately 400 employees.
Terex Corporation president and chief executive Simon Meester said: 鈥淲e are pleased to enter into this agreement with Raimondi, a manufacturer of cranes that is widely recognised for product innovation and customer service. We believe the tower and rough terrain cranes businesses will benefit by becoming part of an Italian-based, global specialty crane 肠辞尘辫补苍测.鈥�
Raimondi Cranes is now is targeting annual revenue of US$ 500m from its global operations by 2028.
The transaction is expected to close in the third quarter of 2025, subject to market regulatory approvals.
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