Manitex International, Inc.
manitexinternational.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2024 10-Q, filed Nov 7, 2024. Its latest SEC filing is a SCHEDULE 13G/A from Apr 22, 2025.
10-Q for Q3 FY2024, filed Nov 7, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Sells boom trucks, knuckle boom cranes and aerial platforms to construction, energy, utility and industrial customers.
10-K for FY2023, filed Feb 29, 2024Manitex markets a comprehensive line of boom trucks, truck cranes, aerial platforms and electrical industrial cranes Manitex’s boom trucks…View ↗
PM and Oil and Steel S.p.A. (“PM” or “PM Group”) is a leading Italian manufacturer of truck- mounted hydraulic knuckle boom cranes with a…View ↗
Oil & Steel aerial platforms are self-propelled or truck mounted and places an operator in a basket in the air in order to perform…View ↗
How Did They Make Money?
Customers generally pay for equipment, parts and installation services when the products or work are delivered; rental customers pay over the rental term based on daily, weekly or monthly rates. The company may also collect deposits before delivery.
10-K for FY2023, filed Feb 29, 2024Revenue Recognition —Revenue is recognized when obligations under the terms of the contract with our customer are satisfied; generally…View ↗
Rental equipment revenue is recognized over the term of the rental contract, based on monthly, weekly or daily rental rates and the number…View ↗
At times, the Company may require an upfront deposit related to its contracts. In instances where an upfront deposit has been received by…View ↗
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10-K for FY2023, filed Feb 29, 2024
FY2023 revenue by product or service ↗
$291.4M
-
10-K for FY2023, filed Feb 29, 2024
$291.4M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Boom Trucks and Knuckle Boom Cranes
Sold outright
10-K for FY2023, filed Feb 29, 2024 |
60% |
Boom Trucks and Knuckle Boom Cranes, FY2023
$174.9M Sources
|
Sold outright |
|
Aerial Platforms
Sold outright
10-K for FY2023, filed Feb 29, 2024 |
12%
FY2020: 12%
|
Aerial Platforms, FY2023
$34M Sources
|
Sold outright |
|
Part and Merchandise Sales
Sold outright
|
10% |
Part and Merchandise Sales, FY2023
$30.6M Sources
|
Sold outright |
|
Rental
Recurring
|
8.7% |
Rental, FY2023
$25.3M Sources
|
Recurring |
|
Other Equipment
Sold outright
|
7.9%
FY2020: 10%
|
Other Equipment, FY2023
$22.9M Sources
|
Sold outright |
|
Services
Sold outright
|
1.3%
FY2020: 2.5%
|
Services, FY2023
$3.8M Sources
|
Sold outright |
Who Were Their Customers?
Construction contractors, utilities, energy businesses and industrial customers buy cranes and lifting equipment; boom trucks and aerial platforms are sold through dealers, while rental equipment is available through Rabern’s branches to contractors and homeowners. Valla cranes also reach customers through dealers and rental distributors.
10-K for FY2023, filed Feb 29, 2024Manitex markets a comprehensive line of boom trucks, truck cranes, aerial platforms and electrical industrial cranes Manitex’s boom trucks…View ↗
The Company’s majority-owned subsidiary, Rabern, rents heavy duty and light duty commercial construction equipment, mainly to commercial…View ↗
The Company sells its boom trucks through a network of over forty full-service dealers in the United States, Canada, Mexico, South America…View ↗
Oil & Steel aerial platforms are self-propelled or truck mounted and places an operator in a basket in the air in order to perform…View ↗
Valla product line of industrial cranes is a full range of precision pick and carry cranes from 2 to 90 tons, using electric, diesel, and…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 3 cents of every revenue dollar as net income in FY2023, but spent more cash than it brought in: free cash flow was −$4.9M.
10-K for FY2023, filed Feb 29, 2024
$15.8MView ↗
10-K for FY2023, filed Feb 29, 2024
$7.4MView ↗
10-K for FY2023, filed Feb 29, 2024
−$4.9MView ↗
How Were They Changing?
-
Jan 3, 2025
Tadano completed its acquisition of Manitex, which became a wholly owned subsidiary.
Shareholders received $5.80 in cash per share, and Manitex shares were delisted from Nasdaq.
Sources
8-K, filed Jan 3, 2025
As a result of the Merger, each share of the Company’s common stock, no par value (“Common Stock”), issued and outstanding immediately…View ↗
Grew. Revenue grew 35% in 4 years, from $215.5M in FY2019 to $291.4M in FY2023, about 8% a year.
Added equipment rentals
The latest report includes Rabern, a construction equipment rental provider serving contractors and homeowners; the older report described equipment leasing but not a Rabern rental business.
10-K for FY2020, filed Mar 11, 2021 10-K for FY2023, filed Feb 29, 2024Crane and Machinery, Inc. (“C&M”) is a distributor of the Company’s products as well as Terex Corporation’s (“Terex”) cranes. Crane and…View ↗
Industrial crane lineup changed
The older report described Badger specialized industrial cranes and Little Giant products; the latest business overview instead describes electric, diesel and hybrid Valla pick-and-carry cranes.
10-K for FY2020, filed Mar 11, 2021 10-K for FY2023, filed Feb 29, 2024Badger sells specialized industrial cranes through a network of dealers. The Badger product line includes specialized 15 and 30-ton…View ↗
Who Did They Compete With?
Competes with National Crane, Custom Truck One Source, Elliott, Altec, Weldco Beales, Palfinger, Fassi, Effer, and HIAB
10-K for FY2023, filed Feb 29, 2024The Company’s boom cranes compete with cranes manufactured by National Crane, Custom Truck One Source, Elliott and Altec and Weldco Beales.…View ↗
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