Hiab Corporation has closed the sale of its MacGregor business, transferring control to funds managed by Triton, according to the company's release.
The transaction, first announced on 14 November 2024, had been expected to close by 1 July 2025 but was delayed because approval from the Chinese State Administration for Market Regulation was still pending.
On 10 July 2025 Hiab confirmed that all regulatory approvals were secured and the closing was scheduled for 31 July 2025.
On 31 July 2025, Triton transferred the agreed purchase price to Hiab and obtained control of MacGregor’s business.
MacGregor has been reported as part of discontinued operations from the fourth quarter of 2024 onwards.
Certain financial terms such as the enterprise value, purchase price amount, or post‑transaction strategic plans are not specified in the provided text, and no further operational details have been given.
Cargotec Corporation originally announced the agreement to sell MacGregor to funds managed by Triton for an enterprise value of EUR 480 million. For 2023, MacGregor recorded sales of EUR 733 million and a comparable operating profit of EUR 33 million. Cargotec expected to record a tax‑exempt loss of approximately EUR 200 million in Q4 2024 results and estimated additional separation costs of around EUR 25 million. The transaction was part of Cargotec’s broader transformation plan to spin off its businesses and rebrand as Hiab, with a proposed standalone listing set for 1 April 2025, and a name change approved at the general meeting of shareholders. Hiab’s continuing operations sales in 2024 were approximately EUR 1.6 billion, employing over 4,000 people worldwide.
Hiab Corporation (formerly the load‑handling business of Cargotec Corporation) is a Finnish public limited company. It offers smart and sustainable on‑road load‑handling solutions. In 2024 its continuing operations sales totalled approximately EUR 1.6 billion and it employed over 4,000 people.
MacGregor is a marine cargo and offshore load‑handling business that was part of Cargotec Corporation.
Triton is a European mid‑market sector‑specialist private equity investor, founded in 1997 and owned by its partners. Triton focuses on mission‑critical goods and services across business services, industrial tech, and healthcare.