BMS to Buy 50% of Crane Norway Group in Norwegian Crane Companies Merger
Stangeland Gruppen and Kraningen Holding AS have signed a letter of intent stating that Kraningen Holding AS will sell its Norwegian crane activities to Crane Norway Group AS in Stavanger, and, at the same time Kraningen Holding AS will buy 50% of Crane Norway Group AS in a shared ownership deal with Stangeland Gruppen, owned by Olav and Tommy Stangeland.
The changes will bring together two Scandinavian family run crane and transport companies as Kraningen Holding is owned by the Danish Enggaard family in Aalborg, owners of the BMS Group.
Crane Norway Group operates mobile cranes from 3t to 500t, crawler cranes from 100t to 650t and truck cranes up to 185 tm and has its headquartered at Sola, just outside of Stavanger. The BMS Group is among the European market leaders, specialized in cranes and man lifts of any size and for any assignment.
Crane Norway Group has stated that they will be able to benefit from being part of BMS, Scandinavia’s largest crane business. The BMS Heavy Cranes division is active in wind energy projects, both onshore and offshore, setting up and handling wind turbines throughout the world.
The companies will continue to operate under their existing names. Management and employees will continue as before.
The merger is subject to the Norwegian Competition Authority’s approval.
Source Crane Norway Group, Stangeland Gruppen and BMS A/S