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Manitex buys Ind. steel tank builder

Keywords: Tags  Manitex International, Sabre Manufacturing, acquisition, steel tanks, lifting equipment

CHICAGO — Manitex International Inc., which builds cranes, forklift trucks and other equipment, has completed its purchase of Sabre Manufacturing LLC, which fabricates steel tanks for petroleum and natural gas drilling applications.

Bridgeview, Ill.-based Manitex bought Sabre for $14 million, it said Aug. 19. Sabre reported revenue of $39.1 million for the 12 months ended March 31.

Knox, Ind.-based Sabre is expected to capitalize on increases in industrial activity and general construction atop growing refinery, petrochemical and hydraulic fracturing operations in North America.

Some of Manitex’s equipment is used in the energy market.

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