8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of the earliest event reported) August 17, 2010

MANITEX INTERNATIONAL, INC.

(Exact Name of Registrant as Specified in Its Charter)

Michigan	001-32401	42-1628978
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

9725 Industrial Drive, Bridgeview, Illinois	60455
(Address of Principal Executive Offices)	(Zip Code)

(708) 430-7500

(Registrant’s Telephone Number, Including Area Code)

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01 Results of Operations and Financial Condition.

On August 17, 2010, the Company posted a slide presentation on its website. This slide presentation is incorporated herein by reference.

The information under Item 7.01 in this Current Report on Form 8-K, including the exhibits hereto, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information under Item 7.01 in this Current Report on Form 8-K will not be incorporated by reference into any registration statement or other document filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated by reference. The furnishing of the information under Item 7.01 in this Current Report on Form 8-K is not intended to, and does not, constitute a determination by the Company that the information under Item 7.01 in this Current Report on Form 8-K is complete or that investors should consider this information before making an investment decision with respect to any security of the Company.

Item 9.01 Financial Statements and Exhibits.

(a) Financial Statements of Businesses Acquired.

Not applicable.

(b) Pro Forma Financial Information.

Not applicable.

(c) Shell Company Transactions.

Not applicable.

(d) Exhibits.

99.1 Manitex International, Inc. slide presentation posted on Company website August 17, 2010.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned thereunder duly authorized.

MANITEX INTERNATIONAL, INC.
By:	/s/    DAVID GRANSEE
Name:	David Gransee
Title:	CFO & Treasurer

Date: August 17, 2010

EXHIBIT INDEX

Exhibit Number		Description
99.1	Manitex International, Inc. slide presentation posted on company website August 17, 2010.

EX-99.1

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

Manitex

International, Inc.

Corporate Presentation

(NASDAQ:MNTX)

August 2010

Exhibit 99.1

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

Forward Looking Statements and Non-

GAAP Measures

2

Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995: This presentation contains

statements that are forward-looking in nature which express the beliefs and expectations of management

including statements regarding the Company’s expected results of operations or liquidity; statements concerning

projections, predictions, expectations, estimates or forecasts as to our business, financial and operational results

and future economic performance; and statements of management’s goals and objectives and other similar

expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking

statements by terminology such as “anticipate,”“estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,”

“we believe,” “we intend,” “may,” “will,” “should,” “could,” and similar expressions. Such statements are based

on current plans, estimates and expectations and involve a number of known and unknown risks, uncertainties

and other factors that could cause the Company's future results, performance or achievements to differ

significantly from the results, performance or achievements expressed or implied by such forward looking

statements. These factors and additional information are discussed in the Company's filings with the Securities

and Exchange Commission and statements in this presentation should be evaluated in light of these important

factors. Although we believe that these statements are based upon reasonable assumptions, we cannot

guarantee future results. Forward looking statements speak only as of the date on which they are made, and the

Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a

result of new information, future developments or otherwise. 

Non-GAAP Measures: Manitex International from time to time refers to various non-GAAP (generally accepted

accounting principles) financial measures in this presentation. Manitex believes that this information is useful to

understanding its operating results without the impact of special items. See Manitex’s earnings releases on 

the

Investor

Relations

section

of

our

website

www.manitexinternational.com

for

a

description

and/or

reconciliation of these measures.

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

$1.00

$1.50

$2.00

$2.50

$3.00

$3.50

Company Snapshot

3

LTM Share Price Performance

Company Description

Manitex

International, Inc. provides engineered lifting

solutions. The company operates through two

segments, Lifting Equipment and Equipment

Distribution. The Lifting Equipment segment designs,

manufactures, and distributes boom trucks and crane

products. The Equipment Distribution segment sells,

services and distributes lifting equipment to end users.

The company was formerly known as Veri-Tek

International, Corp. and changed its name to Manitex

International, Inc. in May 2008. Manitex

International

was founded in 1993 and is based in Bridgeview,

Illinois.

Financial Summary

Total Enterprise Value

(8/12/10):

$61.4 million

Market Cap (8/12/10):

$28.0 million

LTM Total Revenue (6/3010):

$71.5 million

LTM Net Income (6/30/10):

$4.2 million

LTM EBITDA (6/30/10):

$3.9 million

Stock Price (8/12/10)

$2.46

Ticker / Exchange:

MNTX / NASDAQ

$2.46

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

•

Global provider of boom trucks, sign cranes and

specialized

material

handling

equipment

primarily

used

in

commercial, state, local and international government,

and military applications

•

Major industries served include energy (extraction and

processing), utilities, railroads, commercial building,

rental fleets, cargo transportation, and infrastructure

development

–

roads

and

bridges

•

Historically serving North American markets; recent

international diversification and growth

•

Business Model based in part on an aggressive program of making accretive

acquisitions of complementary businesses

–

High margin niche markets

–

Including two in 2009 (Badger and Load King)

–

Rely on seller financing (favorable terms, limited covenants)

Manitex

International

Businesses

Corporate Presentation

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Overview

Manitex

International

4

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

5

Product Overview

Manitex, Manitex Liftking, Badger, Load King

•

Badger Equipment has

manufactured specialized

earthmoving, railroad and

material handling

equipment since 1945 and

has built over 10,000 units

during its existence.

•

Manufacturer of a complete

line of RT Forklifts, Special

Mission Oriented Vehicles,

Carriers, Heavy Material

Handling Transporters and

Steel Mill Equipment

•

Manitex specializes in

engineered lifting

equipment and its

product family includes

Manitex Boom Trucks,

SkyCrane Aerial Platforms

and Sign Cranes

•

Elk Point, South Dakota-based

manufacturer of specialized

custom trailers and hauling

systems typically used for

transporting heavy equipment.

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

Key Management

Name & Title

Experience

David Langevin

Chairman & CEO

20+ years principally with Terex

Andrew Rooke

President &COO

20+ years principally with Rolls Royce, GKN Sinter Metals, Off-

Highway & Auto Divisions

David Gransee

CFO & Treasurer

Formerly with Arthur Andersen,  15+ years with Eon Labs

(formerly listed)

Robert Litchev

President –

Material Handling & SVP

International Distribution

10+ years principally with Terex

Scott Rolston

SVP Sales & Marketing –

Manitex

International

13+ years principally with Manitowoc

6

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

1)

2009 was a transformative year for Manitex

–

Two major acquisitions

–

Successfully

developed

new

products

for

the

utilities

&

railroad

markets

•

Maintained R&D spend to continue developing innovative products

–

Major cost reductions

•

$12.4 m reduction in costs in 2009 compared to 2008: Manufacturing cost reduction 48% or $7.8m, SG&A,

Corporate and R&D cost reduction of 34% or $4.6m

2)

Experienced senior management

–

Senior management has over 70 years of collective experience from well-known industrial leaders such

as Terex, Manitowoc, Rolls Royce, GKN Sinter Metals, Off-Highway and Auto Divisions and Genie

3)

The Company has a global presence with more than 20,000 units operating

worldwide spanning equipment dealerships throughout the country

–

High recurring revenue stream 24% of total sales (average 40% margin)

4)

Growing market share

–

Increased penetration in oil and gas, power grid and rail

–

Rebounding military sales

–

Expanding international sales

5)

Focused on earnings, cash flow and working capital management

7

Investment Highlights

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

8

Company Timeline

March 2002:

Manitowoc (NYSE:MTW)

acquires Grove.

January 2003:

Manitowoc divests

Manitex

December 2009:

Acquire Load King

Trailers

July 2009 Acquire Badger

Equipment Co

November 2006: Veri-

Tek

Acquires LiftKing

July 2007: VCC

acquires Noble

forklift

August 2007: Sale of assets and

closure of legacy VCC business

May 2008: Name changed to Manitex

International

and listed on Nasdaq

(MNTX)

October 2008:

Crane &

Machinery and

Schaeff

Forklift

acquired

July 2006: Manitex

merges  into Veri-Tek,

Intl. (VCC)

2002

2003

2004

2005

2006

2007

2008

2009

2010

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

9

Acquisition History

Key Transactions

2002

Manitowoc was required to divest Manitex

July 2006

Merger of Manitex

into Veri-Tek

Intl (Amex: VCC)

November 2006

Manitex

acquisition of Liftking

July 2007

Acquisition of Noble forklift product line

August 2007

Sale of assets & closure of legacy VCC business.

October 2008

Acquisition of assets of Crane & Machinery and Schaeff

Forklift

July 2009

Acquisition of Badger Equipment Company

December 2009

Acquisition of Load King Trailers

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

•

Load King Trailers, an Elk Point, South

Dakota-based manufacturer of

specialized custom trailers and hauling

systems typically used for transporting

heavy equipment

•

Consideration of $3 million; Load King’s

last five years average annual revenues

were approximately $23 million

•

Niche product line, well-recognized

quality brand name and accomplished

management team

Recent Acquisitions

Highlights

10

•

Badger Equipment Co, a Winona,

Minnesota based manufacturer of

specialized rough terrain cranes and

material handling products

•

Stock purchase with consideration of

$5.1m: Badgers last five years average

annual revenues were approximately

$8m

•

Developing new rough terrain crane line

targeted for railroad, refinery and

construction markets

•

Long standing brand recognition and

crane legacy, with established railroad

and municipality relationships

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

Recent Acquisitions (subject to approval)

CVS

11

•

June 30 2010 MNTX entered into an agreement to operate, on an

exclusive

rental

basis,

the

business

of

CVS

SPA,

commencing

July

1

2010

•

CVS

SPA

is

located

near

Milan

Italy

and

designs

and

manufactures

a

range

of reach stackers and associated lifting equipment for the global container

handling market

•

CVS had 2008 annual sales of $106m prior to the global downturn

•

The rental agreement has been filed with the Italian Court and includes an

exclusive option to purchase the business at the conclusion of the Italian

insolvency process (“Concordato

Preventivo”) Rental period could extend

for up to two years

•

Sales

and

profits

are

consolidated

into

Manitex

International

from

July

2010. No debt or liabilities of “old CVS”

were assumed. As at July 1, CVS

has a backlog of orders of approximately $10m

•

Acquisition is transformational:

•

Adds global product offering

•

European manufacturing and design

•

Adds scale

•

Above average growth profile sectors of containers / ports / inter-

modal

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

Replacement Parts & Service

Consistent Recurring Revenue

•

Recurring revenue of approximately 24% of total sales

•

Typical margins >40%

•

Spares relate to swing drives, rotating components, and booms among others,

many of which are proprietary

–

Serve additional brands

–

Service team for crane equipment

12

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

Pro-forma Revenues

•

Pro-forma revenues are based on 2007

revenue numbers for each respective

business, regardless of date of acquisition by

Manitex

International

•

We believe Pro-forma revenues are more

representative of revenue opportunity than

revenues in the current phase of the

economic cycle

13

Manitex,  $80.0

Liftking,  $26.0

Crane & Machinery,  $18.1

Schaeff,  $3.3

Noble, $1.1

Badger,  $8.0

LoadKing,  $20.0

CVS Ferrari,  $80.0

$0.0

$50.0

$100.0

$150.0

$200.0

$250.0

Pro-forma Annual Revenue

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

14

Steadily Increasing Market Share

Even in Down Cycle

23.4%

16.7%

20.8%

29.6%

36.1%

76.6%

83.3%

79.2%

70.4%

63.9%

0

500

1000

1500

2000

2500

3000

0%

25%

50%

75%

100%

2005

2006

2007

2008

2009

Units Shipped

Market Share

Boom Truck Crane Market

MNTX

Others

Total Units Shipped

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

•

Management saw the state of the world as an opportunity to cut costs and 

grow the business through acquisition at a very modest cost, notwithstanding

reductions in its core markets

•

$12.4 m reduction in costs in 2009 compared to 2008

•

Management was successful in lowering costs to match decreases in sales; revenue decreased

47% from 2008-2009

•

With outside financing unavailable our model of negotiating seller financing fit

circumstances perfectly

•

1  

six

months

2010

gross

margin

23.7%,

117%

increase

in

EBITDA,

revenue

trend higher throughout the half year

•

1  

six

months

2010

EBITDA

margin

of

8.6%

was

the

best

since

2007

15

2009/2010 Highlights

Opportunistic Cost Cutting

st

st

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

Select Financial Data

Note: Includes continuing operations only.

* Includes gain on bargain purchase of $3,815

16

(USD in thousands)

2007

2008

2009

Revenue

$ 106,946

$ 106,341

$ 55,887

Gross Margin

18.6%

16.4%

20.0%

EBITDA

8,461

5,416

1,982

EBITDA Margin

7.9%

5.1%

3.5%

Net Income

2,126

1,799

3,639 *

$106,946

$106,341

$55,887

$8,461

$5,416

$1,982

$2,126

$1,799

$3,639

$0

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

2007

2008

2009

Revenue

EBITDA

Net Income

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

Growth Drivers –

2010 and Beyond

•

World wide improvements in GDP, economic recovery

•

Increased market penetration with product developments and innovative

distribution

•

Leverage synergy with railroad industry

•

Developed products specifically for the following industries:  Oil & Gas, 

Railroads, Power Grid & Wind Power

•

Any significant governmental infrastructure spending will be a potential

spark to recovery for Manitex

•

International expansion

–

New

dealership

agreements

reached

in

Middle

East,

Russia,

&

with

Caterpillar

Global

Distribution Network

–

Achieved European CE Certification for 50 Ton Cranes in 2009.

–

Manitex

International

made

its

first

international

sales

in

2008

and

has

identified

new

markets

to

accelerate

future

growth

(Russian

market

potential

is

estimated

to

be

double

that

of North America)

–

2009 international sales were over 10% of revenue

•

CVS Ferrari is additive to the Company results

17

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

Recent Developments

•

May 27, 2009 –

Announced $7.0 million in new orders including $5.0 million for

commercial boom truck cranes for the owner-operated and rental markets and

$2.0 million for Liftking

military container handling forklifts.

•

July 10, 2009 –

Acquired Badger Equipment Company for $3.0 million; adds

another niche product line of rough terrain cranes and expands dealer network.

•

December 2, 2009 -

Announced $7.6 million of orders received for 1

st

half of

2010

•

December 31, 2009 -

Acquired Load King Trailers

•

February

8,

2010

–

Announced

$4

million

of

orders

for

end

of

1

st

half

of

2010

•

June

9,

2010

–

Announced

$5

million

of

orders

for

2

nd

half

of

2010

•

June 30, 2010 –

Announced signing of exclusive Operating Agreement for

business of CVS

•

August 5, 2010 –

Announced $5 million of orders for 2010 for Manitex

boom

truck cranes for Canadian dealers

18

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

Business Strategy

•

Diversify product offering through acquisition and maintained R&D

–

Increased R&D spending as a percent of sales

•

International diversification, focus on growth markets, oil, gas, commodities mining

–

Russia / CIS market  > double North America

–

Middle East

•

Expand margins through commitment to improved sourcing and manufacturing

efficiencies

•

Pursue cross-sell opportunities and add depth to distribution network.

–

Manitex

–

32

dealers

covering

all

50

states.

–

Liftking

–

Combination

of

direct

sales

and

dealer

network

–

and

military

–

Noble

Forklifts

–

Caterpillar

distribution.

–

Crane

&

Machinery

–

Direct

sales

of

Manitex

products.

–

Badger –

Strong presence in rail and municipalities.

–

Load King

–

Complementary to material handling and Badger products

•

Increase recurring revenues through replacement parts contracts.

•

Consolidate through accretive acquisitions of specialized industrial equipment

companies.

19

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

Summary

Delivering sound operational and financial performance despite the historic

economic and industry-specific challenges

•

Growing market share

•

Increased penetration in oil and gas, power grid and rail

•

Rebound in military sales

•

Penetration into rental markets and networks

•

International orders are increasing

•

We have successfully scaled our business to perform in the current market

conditions through cost rationalization

•

Focused on earnings, cash flow and working capital management

20

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

Appendix

21

Manitex

International, Inc.

Corporate Presentation

August 2010

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

Key Figures -

Quarterly

22

$11,848

$21,970

$19,502

$594

$1,823

$1,732

$0

$5,000

$10,000

$15,000

$20,000

$25,000

Q2-2009

Q1-2010

Q2-2010

$0

$500

$1,000

$1,500

$2,000

Net Sales

EBITDA

USD thousands

Q2-2009

Q1-2010

Q2-2010

Net sales

$11,848

$21,970

$19,502

          % change in Q2-2010 to

prior period

65%

-11%

Gross profit

2,477

5,212

4,607

        Gross margin %

20.9%

23.7%

23.6%

Operating expenses 

2,446

4,169

3,658

Net (loss) Income

(117)

307

213

EBITDA

594

1,823

1,732

          EBITDA % of Sales

5.0%

8.3%

8.9%

Backlog ($ million)

15.5

21.8

24.9

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

Summarized Balance Sheet

23

Current assets

$44,855

$40,147

$40,685

Fixed assets

11,053

11,804

5,878

Other long term assets

41,694

42,734

39,665

Total Assets

$97,602

$94,685

$86,228

Current liabilities

15,579

14,569

17,062

Long term liabilities

40,974

39,688

34,152

Total Liabilities

$56,553

$54,257

$51,214

Shareholders equity

41,049

40,428

35,014

Total liabilities & Shareholders equity

$97,602

$94,685

$86,228

31-Dec-08

31-Dec-09

30-Jun-10

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

Working Capital

$000

Q2 2010

Q4 2009

Q2 2009

Working Capital

$29,276

$25,578

$21,304

Days sales outstanding

69

67

66

Days payable outstanding

57

73

68

Inventory turns

2.2

1.7

1.7

Quarterly EBITDA

1,732

426

594

Quarterly EBITDA % of sales

8.9%

2.9%

5.0%

Current ratio

2.9

2.8

2.9

•Increase in working capital Q2-2010 v Q4-2009 principally from increased

cash ($1.2m), accounts receivable ($3.8m) offset by reduced inventory

($0.7m) and increased accounts payable and accruals ($0.9)

•Continued strength of current ratio

24

“Focused

manufacturer of

engineered lifting

equipment “

Corporate Presentation

Debt and Liquidity

$000

Q2-2010

Q4-2009

Q2-2009

Total Cash

1,485

287

97

Total Debt

34,955

33,511

25,142

Total Equity

41,049

40,428

35,162

Net capitalization

74,519

73,652

60,207

Net debt / capitalization

44.9%

45.1%

41.6%

•Ebitda

for Q2-2010 at 8.9% of sales is best performance since Q3-2007

•Net

debt

reduction

in

Q2-2010

of

$0.7m:

Net

usage

on

lines

of

credit

$0.9m,

repayment

on

notes

and leases ($0.6m)

•Revolver facility, based on available collateral at June 30, 2010 was $22.4m

•Total availability, including cash, at June 30, 2010 $4.6m

•Net capitalization is the sum of debt plus equity minus cash.

•Net debt is total debt less cash

25