Hiab and Custom Truck Forge Powerhouse Partnership to Reshape US Market

KANSAS CITY, Mo. – February 11, 2026 – In a significant move poised to alter the landscape of the North American specialty equipment market, Hiab has signed a strategic dealer agreement with Custom Truck One Source. The partnership dramatically expands the sales and service network for Hiab’s world-renowned loader cranes and MOFFETT truck-mounted forklifts, leveraging Custom Truck's extensive operational footprint to penetrate key U.S. territories.

This alliance pairs Hiab, a global leader in smart on-road load handling solutions, with Custom Truck One Source, a premier provider of specialized trucks and heavy equipment. The deal is designed to address growing demand and enhance customer support, particularly in underserved and high-growth regions across the Western and Northeastern United States.

A Strategic Alliance to Capture the US Market

The agreement is meticulously structured to bolster Hiab's presence across two distinct product lines in separate, strategic regions. For HIAB loader cranes, the partnership establishes sales and service capabilities in twelve states, creating a powerful corridor from the West Coast through the Midwest and into the Northeast. The targeted states include California, Oregon, Washington, Idaho, Nevada, Arizona, Kansas, Missouri, Wisconsin, Pennsylvania, West Virginia, and New York.

For Hiab's popular MOFFETT truck-mounted forklifts, the focus is on consolidating strength in the bustling Northeastern market, covering eight states: New York, New Jersey, Delaware, Massachusetts, Rhode Island, Maryland, Connecticut, and parts of Pennsylvania. This targeted approach ensures that resources are concentrated where market demand, driven by logistics, construction, and e-commerce, is most robust.

Pauliina Kunvik, Senior Vice President of Sales and Services for North America at Hiab, underscored the deal's strategic importance. “Partnering with Custom Truck is a major milestone for us getting close to full coverage of the U.S. market for HIAB loader cranes,” she stated. “This agreement secures the extensive coverage in the crucial West region of the U.S. that has been a long-standing strategic priority for Hiab, while also reinforcing our presence in the high-volume New York market. The partnership also significantly enhances our MOFFETT truck mounted forklift distribution.”

This expansion is built on a foundation of strong financial health. Hiab reported a record comparable operating profit margin of 13.7% in its 2025 review, positioning the company to aggressively pursue growth opportunities like this one.

The 'One-Stop-Shop' Advantage for Equipment Users

For customers on the ground, the partnership promises a significant upgrade in both access and service. Custom Truck One Source is known for its comprehensive “one-stop-shop” business model, which goes beyond simple sales to include a massive rental fleet of over 10,400 units, in-house financing, and a 24/7 service call center. With more than 40 locations across North America, the company has the infrastructure to provide localized, rapid support.

This model is designed to provide a “cradle-to-grave” solution for equipment users, from initial acquisition and customization to long-term maintenance and eventual disposal. By integrating Hiab’s innovative products into this ecosystem, customers gain access to leading technology backed by an established and reliable service network.

“We are delighted to partner with a global leader like Hiab,” said Ryan McMonagle, Chief Executive Officer of Custom Truck One Source. “Their commitment to innovation and quality mirrors our own focus on providing complete and reliable solutions to our customers. This portfolio expansion will allow us to better serve the growing demand for smart, high-performance loader cranes across our extensive operational footprint.”

End-users will now be able to source, finance, and service Hiab's high-tech equipment—including models with advanced HiConnect™ telematics for enhanced operational efficiency—through a single, trusted point of contact, reducing downtime and streamlining fleet management.

Shifting Dynamics in a Competitive Landscape

The Hiab-Custom Truck alliance does not exist in a vacuum. It enters a fiercely competitive U.S. equipment market, with the truck loader crane sector alone valued at an estimated $1.4 billion in 2024 and projected to grow. The broader U.S. construction equipment market, valued at over $42 billion in 2023, is being fueled by major infrastructure investments and rapid urbanization, creating immense opportunity.

Key competitors such as Palfinger, Fassi, and Manitex have been making their own strategic moves. Palfinger has been expanding its North American presence, while Manitex has launched new crane series to capture market share. The industry is also undergoing a technological transformation, with a heavy emphasis on electrification—a field where Hiab is already a player with its ePTO-powered electric crane—and IoT integration for predictive maintenance.

This partnership represents a powerful strategic response, shifting the competitive dynamic from individual product strength to the power of a combined sales, service, and support network. By creating a more integrated and customer-friendly offering, Hiab and Custom Truck are betting they can outmaneuver rivals and capture a larger share of the market. This move will likely pressure competitors to re-evaluate their own distribution strategies and service capabilities in these key regions.

Financially, both companies are well-positioned to execute this strategy. Custom Truck One Source boasts over $1 billion in annual revenue and has reported robust demand in its core infrastructure and telecom markets. The new Hiab product lines are expected to drive further growth in its Truck and Equipment Sales (TES) segment. The alliance allows both organizations to capitalize on their respective strengths, creating a synergy that is expected to translate into increased sales volume, greater market penetration, and a stronger competitive position for years to come.