Terex has sold its boom truck, truck crane, and crossover product lines to Load King LLC, a subsidiary of Custom Truck One Source. This includes the assets and parts business associated with these product lines.
“We continue to implement our Focus, Simplify and Execute to Win strategy. By focusing on businesses where we have a strong market position, we can efficiently concentrate our improvement efforts to maximize value for our customers, team members and shareholders,” said Terex Chairman and CEO John L. Garrison in a statement.
This acquisition will expand Load King’s manufacturing portfolio, which already including eater tanks, dump bodies, roofing conveyors, mechanics bodies, and trailers.
Load King plans to unveil new and enhanced crane configurations in the near future. The company is currently transferring inventory and equipment for the acquired product lines to Load King’s campus in Kansas City.
Terex will work closely with Load King to ensure a smooth transition and will continue to sell parts and offer support to boom truck, truck crane, and crossover customers during an anticipated one-year transition period, according to a press release from Load King.