Manitex Buyer Armed with Capital

September 28, 2010

Veri-Tek International purchased boom-truck and crane manufacturer, Manitex. Manitex revenues grew 63 percent between 2003 and 2005, reaching about $62 million last year. David Langevin, Manitex CEO, will serve as CEO of Veri-Tek and was also elected Veri-Tek's Chairman of the Board.

"Manitex has bright prospects for the future, including our growing application in the energy sector," says Langevin. "We believe that Veri-Tek's ability to access the capital markets will allow for strong growth and development of the combined company."