Tommy Gate Company announced that it has purchased a 40% equity stake in Anteo S.P.A., a liftgate manufacturer located in Molinella, Italy. Specific deal terms have not been disclosed, although ownership of Tommy Gate remains unchanged, and the management teams of each company will remain in place.
Anteo was founded in 1969 and today has successful distribution in every corner of the world. Ilmer Maietti, general manager of Anteo, will continue to manage the day to day operations of the company and has retained his 60% ownership stake.
Known for their premium, lightweight, aluminum designs, Anteo’s appeal in the steel-loving United States has been limited, but Blandford and Maietti both recognize that times are changing.
Plans are underway for collaboration that will benefit the operations and ambitions of both companies and workforces. It is expected that the relationship will result in growth at both factories, as well as increased penetration of both brands worldwide.
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Originally posted on Work Truck Online