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The original item was published from 7/13/2018 4:14:58 PM to 7/13/2018 4:16:28 PM.

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Economic Development

Posted on: July 13, 2018

[ARCHIVED] Kalmar Rough Terrain Center becomes Independent Rough Terrain Center

Kalmar, part of Cargotec, has signed an agreement to sell its rough-terrain handling business, Kalmar Rough Terrain Center (KRTC), to the management and a Texas-based investment group, led by Independent Bankers Capital Funds (IBCF) and Congruent Investment Partners, LLC (Congruent).

Kalmar Rough Terrain Center is a specialised manufacturer of rough-terrain materials handling equipment for both the defence and commercial markets. It is also a manufacturer and distributor of parts and a service provider of existing equipment. Its portfolio includes the RT240 Rough Terrain Container Handler and the RT022 Light Capability Rough Terrain Forklift that are specially built to military standards, as well as the RT290 Rough Terrain Container Handler for commercial operations.

KRTC is headquartered in Cibolo, Texas, US, and its facility includes four buildings on 13.3 ac. (53,000 sqm).

"This transaction follows Kalmar's strategy to focus on container ports, heavy industry and distribution segments. The rough-terrain handling business is outside these core areas. Furthermore, KRTC operates to a large extent as a stand-alone business with limited synergies with the rest of Kalmar," comments Antti Kaunonen, president of Kalmar.

"After a strong period of ownership by Kalmar, we are thrilled to begin our next chapter as an independently owned and operated small business, based in Cibolo, Texas," says Stephen Speakes, president and CEO, KRTC.

"The management's partnership with IBCF and Congruent positions the company very well to excel in the future. The combination of our operating strengths in rough terrain with their broad industry expertise and strong financial backing will allow the company to maintain a robust core base while aggressively pursuing growth opportunities.  

"We think this is not only a win for the employees, customers and vendors of the company, but also the broader San Antonio and Central Texas markets."

Barry Conrad, managing partner of IBCF, sees it as an honour to partner with "the very talented management team and employees of KRTC as they embark on their next phase of growth as a Texas-owned small business".

"We're excited to partner with IBCF and the management in acquiring KRTC.  We believe the platform is built to thrive, on both the military and commercial sides, under Stephen's leadership and as a stand-alone, domestically owned small business," says Travis Baldwin, managing member of Congruent. "This continues Congruent's strategy of aligning with best-in-class management teams to build and grow businesses in the lower middle market."

There is no indication yet of any changes to key personnel or operations at KRTC, nor of the purchase price.

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