January 5, 2010 (FinancialWire) — Fork lift and crane maker Manitex International, Inc. (NASDAQ: MNTX) said it has acquired the assets and certain liabilities of Load King Trailers from Terex Corp.’s (NYSE: TEX) Genie Industries, Inc. subsidiary, for a total consideration of $3.1 million, consisting of a promissory note of $2.75 million, Manitex shares valued at $250,000 and cash of $100,000.

Elk Point, South Dakota-based Load King Trailers is a manufacturer of specialized custom trailers and hauling systems typically used for transporting heavy equipment. Load King’s last five years average posted annual revenues were around $23 million.

Manitex COO Andrew Rooke said, “The acquisition brings us additional government and military relationships, outstanding manufacturing capabilities and a strong distribution network, particularly within the energy, railroad and construction industries.”

The company said it anticipates moderate revenue and cash flow contributions in the second half of 2010 from Load King, with a more substantial impact occurring in following years as construction equipment sales growth accelerates with the recovery of this sector.

Load King began operations in 1956 and has manufactured and sold engineered trailers in North America and internationally. Its specialized markets include, railroad, construction, oilfield and transportation.

Minnesota-based Manitex International is a provider of engineered lifting solutions including cranes, rough terrain forklifts, indoor electric forklifts and special mission oriented vehicles, including parts support.

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