Crown Equipment Corporation stands as one of the world’s largest material handling companies. Headquartered in New Bremen, Ohio, this family-owned business has grown from a small-town operation into a global forklift manufacturer serving customers across 80 countries.
The company designs and manufactures up to 85 percent of its lift truck components in-house. Crown produces motors, drive units, electronic modules, and complete forklifts at 24 manufacturing facilities worldwide.
Crown Equipment operates through a network of more than 500 retail locations. The Dicke family has led the company through four generations, maintaining private ownership while competing against publicly traded giants like Toyota Industries and KION Group.
Crown Equipment History
Crown Equipment Co-founders
Crown Equipment Revenue
Crown Equipment reported $5.29 billion in worldwide sales revenue for fiscal year 2024. As a privately held company, Crown does not disclose detailed financial statements. Industry reports have tracked the company’s growth from approximately $2.5 billion in 2015 to over $5 billion today.
Crown Equipment Market Cap
Crown Equipment Corporation operates as a privately held, family-owned company. Unlike publicly traded competitors such as Toyota or Hyster-Yale, Crown does not have a market capitalization because its shares do not trade on public stock exchanges.
The Dicke family has maintained private ownership through four generations. This structure allows Crown to make long-term investments without quarterly earnings pressure from public shareholders.
Industry analysts estimate Crown’s enterprise value based on revenue multiples applied to similar public companies. However, the company has not disclosed valuations or entertained acquisition offers that would reveal its private market value.
Crown Equipment Competitors
Crown Equipment competes in the global material handling equipment market against manufacturers from Japan, Germany, and the United States. The company holds approximately 14 percent market share in the forklift manufacturing industry, ranking fifth globally.
| Company | Headquarters | Primary Products |
|---|---|---|
| Toyota Industries | Japan | Forklifts, Warehouse Equipment |
| KION Group | Germany | Forklifts, Automated Solutions |
| Jungheinrich | Germany | Electric Forklifts, Warehouse Systems |
| Hyster-Yale | United States | Forklifts, Container Handlers |
| Mitsubishi Logisnext | Japan | Forklifts, Automated Vehicles |
| CLARK Material Handling | United States | Forklifts, Electric Trucks |
| Raymond Corporation | United States | Pallet Jacks, Reach Trucks |
| Linde Material Handling | Germany | Forklifts, Warehouse Trucks |
| Caterpillar | United States | Industrial Forklifts, Heavy Equipment |
| Doosan Industrial Vehicle | South Korea | Forklifts, Warehouse Equipment |
Crown Equipment Acquisitions
Crown Equipment has pursued a growth strategy focused primarily on internal development rather than acquisitions. The company prefers building new manufacturing facilities and expanding its dealer network organically. This approach differs from competitors like Toyota Industries, which acquired BT Industries, or KION Group, which purchased Dematic.
Crown’s most significant expansion moves have involved establishing wholly-owned operations rather than buying existing companies. The company built its German manufacturing plant in Roding in 1986 instead of acquiring a European competitor. Similarly, Crown constructed its Suzhou, China facility in 2006 to enter Asian manufacturing directly.
In 2018, Crown acquired Carolina Material Handling Services, an independent dealer operation. This acquisition aligned with Crown’s strategy of converting successful independent dealers into company-owned retail locations. Crown now operates nearly 80 company-owned retail locations across the United States alongside its network of independent dealers.
The company has also grown through technology partnerships. Crown worked with John Deere Power Systems to develop the engine for its C-5 Series internal combustion forklifts. This collaboration allowed Crown to enter the IC forklift market in 2009 without acquiring an engine manufacturer.
Crown’s acquisition approach reflects its private ownership structure. Unlike publicly traded competitors facing pressure to grow through M&A deals, Crown can pursue patient capital strategies. The Dicke family has invested in research and development, manufacturing capacity, and workforce training rather than debt-financed acquisitions. This organic growth model has helped Crown maintain its reputation for product quality and dealer service.
FAQs
Who owns Crown Equipment Corporation?
The Dicke family owns Crown Equipment Corporation. Four generations have led the company since Carl Dicke, Allen Dicke, and James Dicke founded it in 1945.
Where is Crown Equipment headquartered?
Crown Equipment is headquartered in New Bremen, Ohio, a small village in western Ohio. The company has operated from this location since its founding in 1945.
What products does Crown Equipment make?
Crown manufactures electric forklifts, pallet trucks, reach trucks, stockpickers, turret trucks, and internal combustion lift trucks. The company also produces fleet management technologies.
Is Crown Equipment a public company?
No, Crown Equipment is a privately held company. The Dicke family has maintained private ownership since 1945 and the company does not trade on stock exchanges.
How many employees does Crown Equipment have?
Crown Equipment employs more than 19,600 people worldwide. The company operates 24 manufacturing facilities and over 500 retail locations across 80 countries.