Manitex International acquires Sabre Manufacturing

Manitex International Inc.

Manitex International Inc. (Nasdaq: MNTX),  a provider of engineered lifting solutions (including boom truck and rough-terrain cranes, rough-terrain forklifts, special mission-oriented vehicles, container-handling equipment and specialized engineered trailers), has acquired the business of Sabre Manufacturing LLC, a Knox, Indiana-based manufacturer of specialized tanks for liquid storage and containment solutions for a variety of end markets such as petrochemical, waste management and oil and gas drilling.

The $14 million purchase consideration comprises $13 million in cash, being provided from the company's bank credit line with Comerica, and $1 million in Manitex common stock. The acquisition closed on August 19, and is expected to be accretive to Manitex International's earnings in 2013.

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