16 December 2013

Gernandt & Danielsson assists Z-forestab in structural deal within the forest technology industry

The investment company Mittkapital i Jämtland och Västernorrland AB, Inlandsinnovation AB and EkoNord Invest AB have through their jointly owned subsidiary Z-forestab AB acquired shares in Cranab AB and in connection therewith sold all shares in Bracke Forest AB.

Following the transaction, which was closed on 2 December 2013, the Cranab group includes Cranab AB which manufactures cranes for forest machines, Vimek AB which manufactures forest machines and Bracke Forest AB which manufactures machines for forest regeneration and felling. The group operates in Vindeln outside Umeå, Sweden, and in Bräcke outside Östersund, Sweden.

Gernandt & Danielsson has assisted Z-forestab in the transaction which has invested in Cranab. Z-forestab is owned by Mittkapital together with Inlandsinnovation and EkoNord. The new owner structure of Cranab also includes the Italian company Gestioni S.p.a, one of the world’s largest manufacturers of truck cranes, as well as the two original main shareholders, the CEO and chairman of the board of directors of Cranab.

The transaction is one of the largest structural deals in the forest technology industry. Taken overall, the deal means that Cranab via its subsidiaries will add approximately 50 employees bringing the total to about 200 and increase its sales by approximately SEK 100 million (EUR 11 million) to around SEK 350 million (EUR 40 million).

Gernandt & Danielsson’s team has consisted of Dick Lundqvist (partner), Rolf Larsson (counsel) and the associates Sara Zachrisson (project manager), Erik Sandgren, Corinne Ekman, Caroline Walderfors, Sofia Ungh and Marcus Karner.

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