Avance advises Cargotec Corporation in the sale of MacGregor business area, to funds managed by Triton, for an enterprise value of EUR 480 million to support Hiab’s future growth. MacGregor is a leader in sustainable maritime cargo and load handling with a strong portfolio of products, services and solutions.
The transaction is subject to customary closing conditions. Closing of the transaction is expected to occur by 1 July 2025 at the latest. Once the transaction has been completed, Hiab would be the only business left in Cargotec and could pursue its strategy on a standalone basis. Sale of MacGregor represents the last major milestone in Cargotec’s strategic transformation process and the company’s name is expected to be changed from Cargotec to Hiab in 2025.