Alimak Group, a global provider of sustainable vertical access and working at height solutions, has signed an agreement to acquire Pro-Bel, a privately owned North American provider of suspended access and fall protection solutions. 

The acquisition is another step in Alimak Group’s New Heights strategy and strengthens the Group’s position as a leading global provider of sustainable vertical access and working at height solutions. 

Founded in 1976, Pro-Bel is a provider of suspended access and fall protection solutions serving customers across Canada and the US. Headquartered in the Toronto area, the company employs more than 140 people and offers a broad portfolio of access and safety solutions for working at height, including roof anchors, davit arms, horizontal lifelines, monorail systems and BMU solutions.

Pro-Bel brings a well-established business with 45 years of industry experience and a highly profitable operating model. It will be integrated into the Facade Access division.

The acquisition broadens the Facade Access division’s offering and strengthens the Group’s diversification and resilience through increased exposure to the low- and mid-rise building segment, while maintaining our leading position in high-rise access solutions.

On the key acquisition, Ole Kristian Jødahl, President and CEO of Alimak Group, said: “Pro-Bel is a strong strategic fit for Alimak Group and supports our strategy to further diversify the business and increase resilience. The acquisition strengthens our position in North America, expands our offering and adds a highly profitable business with a proven track record of maintaining high profitability over time.”

“Together, we will be even better positioned to create value for customers and continue delivering profitable growth for our owners,” he added.

As part of the integration, Marc Lebel, founder and CEO of Pro-Bel, will remain with the business for a transition period to support the integration process, ensure continuity for customers and contribute to knowledge transfer.

“We are pleased to join Alimak Group and become part of a global leader in access and safety solutions. Alimak Group shares our long-term perspective, customer focus and commitment to quality and safety,” said Lebel.

The acquisition is financed through existing credit facilities and will temporarily increase net debt to EBITDA slightly above the Group’s financial target of 2.5x. 

Supported by the Group’s strong cash flow generation, leverage will return below the target by year-end.