Hiab AB acquires Olsbergs

20 December 2022


Hiab, part of Cargotec, has entered into an agreement to acquire the family-owned
Swedish industrial group Olsbergs, which designs, manufactures and supplies hydraulic
valves and remote control systems used to manoeuvre Hiab’s truck mounted loader
cranes and forestry cranes. The closing takes place on 1 January 2023 and the integration
of Olsbergs into Hiab as a separate business unit starts immediately after closing.

Olsbergs’ industry leading hydraulic and remote systems have been used by Hiab since
the mid-80’s. Remote controls from Olsbergs are currently offered to Hiab customers as
CombiDrive 3 and CD4. Olsbergs valves and CombiDrive remote controls combined with
the SPACEevo software, developed by Hiab, are the three most important parts of Hiab’s
advanced control systems.

After the acquisition is completed, Olsbergs will become a business unit in Hiab’s Loader
Cranes Light & Medium division and all 100 employees join Hiab. The current owners
remain in the business in their current roles.

The Olsbergs name will remain as an endorsed brand: Olsbergs, a Hiab company.

Olsbergs technology has been instrumental in making Hiab the leading provider of the
most advanced loader cranes on the market. By making Olsbergs a part of Hiab, we
strengthen our technology leadership and can accelerate the development of our loader
cranes and shape the future of smart and sustainable load handling,” says Barry
McGrane, Senior Vice President, Loader Cranes Light & Medium, Hiab.

I look forward to welcoming 100 new colleagues from Olsbergs to Hiab. One of our key
growth strategies is through acquisitions, and the competence in valve and remote control
technology we now bring to Hiab will ensure we are able to further accelerate developing
integrated design solutions that will enable us to continue to set the industry standard for
control systems that are safer, faster, and easier to use,” says Scott Phillips, President,

After decades of close cooperation, we look forward to becoming part of Hiab. We see it
as a natural next step in Olsberg’s more than 100-year history where we now have the
opportunity, together with Hiab, to further strengthen Olsberg’s brand and take the next
step in technology and growth. As the operations will remain and grow both in Eksjö and
Vallentuna, we have secured local jobs and created the best potential for future growth,”
say Christina Henriksson and Jan-Erik Steen, Olsbergs.

The modern-day Olsbergs can trace its origins to 1906 when Olsbergs Gjuteri AB was
founded in Bruzaholm, Eksjö, Sweden. In 1976 Olsbergs Hydraulics AB was founded in
Eksjö, and Olsbergs Electronics, located in Vallentuna, Sweden, was founded in 1996.
Currently, 85% of Olsbergs production is delivered to Hiab.

Further information:
Barry McGrane, Senior Vice President, Loader Cranes Light and Medium, Hiab,
m: +353 872791721, barry.mcgrane@hiab.com

Annika Falk, Vice President, Marketing and Communications, Hiab,
m: +46 706 021371, annika.falk@hiab.com

Alexander Gelis, Vice President, Loader Cranes Light and Medium, Sales and Product
Management, Hiab, m: +46 703 954 266, alexander.gelis@hiab.com

Jan-Erik Steen, VD Olsbergs Electronics, m: +46 708 358 833,

Christina Henriksson, VD Olsbergs Hydraulics, m: +46 705 408 755,

About Hiab
Hiab is a leading provider of smart and sustainable load handling solutions. We are
committed to delivering the best customer experience every day with the most engaged
people and partners. Hiab’s premium equipment includes HIAB, EFFER and ARGOS
loader cranes, MOFFETT and PRINCETON truck mounted forklifts, LOGLIFT forestry
cranes, JONSERED recycling cranes, MULTILIFT skiploaders and hooklifts, GALFAB
roll-off cable hoists, and tail lifts under the ZEPRO, DEL and WALTCO brands. As the
industry pioneer, Hiab continues to make load handling smarter, safer and more
sustainable to build a better tomorrow. www.hiab.com
Hiab is part of Cargotec Corporation. Cargotec (Nasdaq Helsinki: CGCBV) sales in 2021
totalled approximately EUR 3.3 billion and it employs around 11,500 people.

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