Liftex acquires Unitex Group USA
Liftex Corporation has acquired substantially all of the assets of Unitex Group USA LLC.
“We are pleased to announce this major strategic acquisition,” said Paul Keating, CEO and chairman of the board of Liftex Corp. “The acquisition of the assets of Unitex Group USA strengthens the position of Liftex as a recognized market leader in the rigging and lifting industry in general and in the synthetic sling category in particular. As one of the originators of the synthetic sling industry, Liftex has enjoyed 60-plus years of success with a well-earned reputation for quality products, superior service and partnership with our distributors. This acquisition enables us to further strengthen those foundations, bringing additional value to our distributor partners and, by extension, the end-users of Liftex products.”
As a result of the asset acquisition, Liftex will be vertically integrated with in-house weaving and dye range capabilities. This further positions Liftex to take full control over primary raw material supply chains, thereby ensuring not only quality and consistency of supply, but also providing greater opportunities for innovation and new product development.
Derek McNab, president of Liftex, added that the acquisition will enable the company to expand its product capabilities into related categories such as high performance roundslings, as well as expanding beyond sling related categories in the near future. "This acquisition solidifies Liftex as the 'go-to' source in the synthetic rigging space, and also serves as our entry point into a broader range of product categories,” McNab said.