France’s Altrad completes acquisition of Hertel

Altrad Group, the French maker of scaffolding and cement mixers, has completed its takeover of Dutch industrial services company Hertel’s access solutions, insulation, corrosion protection and mechanical businesses.

The deal was first announced in March this year.

The transfer took place on 12 June 2015, once a consultation process with Hertel’s works council had been completed and competition authorities had approved the transaction.

The offshore business of Hertel is not included in the deal, and will continue to operate as a separate company under the name CKT Offshore. Hertel’s senior management will continue to be involved in its operations to promote a seamless transition to its new situation.

The combination of Altrad and Hertel, which will have a joint annual turnover in excess of $1.8bn and will employ about 17,000 people, will operate in Europe, the Middle East, the Caspian area and the Asia Pacific region.

Image via Hertel

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