Van Beest – manufacturer of Tycan®, Excel® and Green Pin® lifting equipment – has acquired the majority of the shares of Irizar Forge, based in the Basque Country of Spain.
Irizar Forge develops tailor-made solutions for offshore and onshore application in industries such as oil and gas, construction, marine transport, industrial processing, nuclear, mining, hydro and steel.
Richard Meer, member of the Board of Directors of Van Beest, comments: “With the acquisition of Irizar Forge, Van Beest acquires a strong and well respected company in the lifting and mooring industry. It will not only expand our market position but will also increase the manufacturing footprint of Van Beest through the addition of a world-class production facility.”
Maria L. Irizar, CEO of Irizar Forge, adds: “In a volatile market in which having greater scale is a significant advantage, we are excited to have found the right partner to achieve that scale. Thanks to synergies in manufacturing, innovation and market access, I am confident that together we will create new opportunities for our customers and, in the process, further grow our business”.