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Terex Corporation has signed a definitive agreement to sell its Tower and Rough Terrain Cranes businesses to Raimondi Cranes SpA, a crane manufacturer headquartered in Milan, Italy. The deal includes the Terex Tower Cranes facility in Fontanafredda, Italy, the Rough Terrain Cranes facility in Crespellano, Italy and the Terex North America Cranes service and support operation in Wilmington, North Carolina.
The transaction is subject to regulatory approvals and other closing conditions, with completion expected in the second half of 2025.
“We are pleased to enter into this agreement with Raimondi, a manufacturer of cranes that is widely recognized for product innovation and customer service,” said Simon Meester, Terex president and CEO. “We believe the Tower and Rough Terrain cranes businesses will benefit by becoming part of an Italian-based, global specialty crane company.”
Meester added that Terex is committed to supporting customers throughout the transition. “Our cranes team members in Italy have made substantial contributions throughout their years of service to the Company, and we thank them and wish them continued success in the future,” he said. “Terex is working closely with Raimondi to support the team and manage the change with transparency and respect for everyone involved.”
From Raimondi’s perspective, the acquisition marks an expansion of its global reach. “This strategic acquisition represents a milestone in our journey to become a full-fledged global lifting conglomerate,” said Luigi Maggioni, Raimondi Group CEO. “By integrating Terex's Tower and Rough Terrain cranes, we are creating synergies that enhance our ability to deliver a broader range of solutions, paving the way for sustainable, accelerated growth.”
For Terex, the sale aligns with its strategy to reduce exposure to cyclical markets while focusing growth on its three core segments: materials processing, aerials and environmental solutions. That portfolio includes the Environmental Solutions Group, which Terex acquired in 2024.
The agreement does not include Franna pick-and-carry cranes, which Terex will continue manufacturing in Brisbane, Australia, and Hosur, India.
