Houlihan Lokey Advises Calvi

Houlihan Lokey is pleased to announce that Calvi Holding S.p.A. (Calvi) has sold its mechanical division (Lift-Tek) to Cascade Corp., a subsidiary of Toyota Industries Corp. (TICO). The transaction closed on 26 October 2021.

Established in 1999 and based respectively in Westminster, South Carolina, and Piacenza, Italy, Lift Technologies Inc. and Lift-Tek Elecar S.p.A. (together, “Lift-Tek” or the “company”) consist of the mechanical business unit of the industrial group led by Calvi. The company is the world’s largest independent manufacturer of fully integrated front-end solutions for vehicles serving the material handling industry. Products are used on both electric and internal combustion lift trucks, narrow aisle lift trucks, automated guided vehicles, telehandlers, and more.

Established in Portland, Oregon in 1943 Cascade is the global leader in the design, manufacturing, and marketing of lift truck attachments, forks, and related technologies and a leader in quality attachments for the construction industry.

The acquisition will give the unique opportunity to complement Cascade’s product offering of attachments and forks with Lift-Tek. In particular, Lift-Tek’s special engineering capabilities combined with Cascade’s latest attachment technologies are expected to provide opportunities for synergies and growth especially when it comes to product development for digitally integrated solutions.

Houlihan Lokey acted as the exclusive financial advisor to Calvi by originating and negotiating all aspects of the transaction on its behalf. This deal demonstrates Houlihan Lokey’s strength in the industrials sector in Italy as well as the benefits of its deep local relationships.