SHV acquires majority in Mammoet

18 April 2008

Netherlands: Netherlands-based international heavy lift and specialized transport company Mammoet will get a new majority shareholder. Subject to approval from competition authorities, existing shareholder SHV Holdings N.V. will increase its stake in Mammoet to 75%.

The Van Seumeren family, owner of the company with that name that in 2000 acquired Mammoet and adopted its name, will reduce its majority interest from 51% to 25%. SHV will acquire the 26% share of what is now a $510 million-turnover company that employs more than 2,000 people worldwide.

A Mammoet statement read, “The change in shareholder structure is a logical step in light of Mammoet's current size, international market position and growth plans.” The statement continued, “Mammoet, within the SHV family of companies, will have the necessary support to implement its growth strategy.”

Joost van Klink, SHV company secretary, told ACT sister magazine International Cranes and Specialized Transport, that at Mammoet it will be, “Business as usual, including support for its growth strategy,” and that there will only be changes to the composition of the supervisory board. Roderik van Seumeren will continue as Mammoet CEO.

The $19 billion SHV Holdings, one of the largest companies in the Netherlands with interests that include Kuiken Cramat, Calor Gas and Makro, took an indirect stake in Mammoet in 1999 when it acquired investment company NPM Capital, which holds a 24.5% share. SHV will get the remaining 24.5% of Mammoet from a third shareholder, ABN Amro, to give it a total of 75%. Figures for the transactions were undisclosed.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, World Crane Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
Barnhart teams up with ITI Learning Hub
Barnhart has implemented ITI Learning Hub to enhance employee training and learning. 
Last call: Tower Crane 50 forms due!
Fill out and return all TC 50 survey forms by this Friday, July 23, 2021.
Manitowoc to acquire H&E’s crane operations
Manitowoc will acquire the crane business of H&E Equipment Services
CONNECT WITH THE TEAM
D.Ann Shiffler Editor, American Carnes & Transport Tel: +1 512 869 8838 E-mail: d.ann.shiffler@khl.com
Matt Burk VP Sales Tel: +1 312 496 3314 E-mail: matt.burk@khl.com
CONNECT WITH SOCIAL MEDIA