Terex sells tower crane and rough terrain crane businesses to Raimondi

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Terex Corp has signed a definitive agreement to sell its Terex Tower and Rough Terrain Cranes businesses to Raimondi Cranes SpA, an Italian tower crane manufacturer headquartered in Milan.

The deal includes Terex’s tower crane production facility in Fontanafredda, Italy, the rough terrain crane manufacturing facility in Crespellano, Italy, and the North American cranes service and support centre in Wilmington, North Carolina, USA.

The sale remains subject to regulatory approvals and other closing conditions and is expected to be completed in the second half of 2025. The sale price has not been published by Terex.

“We are pleased to enter into this agreement with Raimondi, a manufacturer of cranes that is widely recognized for product innovation and customer service,” said Simon Meester, president and chief executive officer, Terex. “We believe the Tower and Rough Terrain cranes businesses will benefit by becoming part of an Italian-based, global specialty crane company.”

For Raimondi, the acquisition marks a significant expansion.

Luigi Maggioni, Raimondi Group chief executive officer

“This strategic acquisition represents a milestone in our journey to become a full-fledged global lifting conglomerate,” said Raimondi Group CEO Luigi Maggioni.

“By integrating Terex’s tower and rough terrain cranes, we are creating synergies that enhance our ability to deliver a broader range of solutions, paving the way for sustainable, accelerated growth.”

Raimondi added that, in addition to its expanded product portfolio, the acquisition provides it with significant operational advantages. By leveraging enhanced manufacturing capabilities, optimising product segmentation, and streamlining procurement processes, the company said that it aims to achieve economies of scale and further strengthen its market position.

Additionally, the integration of Terex’s established North American infrastructure accelerates Raimondi’s entry into this high-potential market, enabling the company to serve one of the largest construction sectors globally while reinforcing its leadership in Europe and the Middle East.

The divestiture aligns with Terex’s stated strategy of reducing exposure to cyclical markets while strengthening its three core segments: Materials Processing, Aerials and Environmental Solutions. The agreement does not include the Franna pick-and-carry crane line, which Terex will continue to produce at its facilities in Australia and India.