Kalmar, part of Cargotec, has signed an agreement to sell its rough terrain handling business, Kalmar Rough Terrain Center (KRTC).
A Texas-based investment group, headed by Independent Bankers Capital Funds (IBCF) and Congruent Investment Partners, LLC (Congruent), will purchase the business.
KRTC specializes in manufacturing equipment for rough terrain material handling, as well as being a manufacturer and distributor of parts.
Commenting on the agreement, Antti Kaunonen, President of Kalmar, said: “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.”