The Manitowoc Company, Inc. MTW recently acquired all the assets of Aspen Equipment Company ("Aspen") for $51 million. This buyout will enhance Manitowoc’s footprint in Nebraska, Iowa and Minnesota, and provide after sales services to a diversified end market.The company had entered into this agreement on Aug 17. Aspen is a diversified crane dealer and a leading final-stage, purpose-built work truck upfitter, serving various end customers. Aspen’s specialized crane and truck equipment upfitting capabilities provide a broader array of product offerings to an extensive range of customers including Manitowoc.Synergies from the acquisition are likely to accelerate Manitowoc’s growth in the coming years. In fact, Aspen’s upfitting business complements the company’s National Crane boom truck business, which will allow it to better serve utility and telecommunications end markets customers. Apart from this, Aspen’s aftermarket business will supplement Manitowoc’s previously announced buyout of the crane business of H&E Equipment Services, Inc. HEES. In July, the company entered into this agreement to expand its aftermarket business. The purchase of H&E’s crane business is a step toward growing the lesser cyclical part of the company’s business. This transaction is expected to close in the fourth quarter of the current year.Manitowoc continues to evaluate acquisition opportunities to boost product development programs in its all-terrain product line. It is scaling up its Chinese tower crane business and has launched four crane models, which have received positive customer feedback. The tower crane market in China is the largest tower crane market in the world. The company plans to spend $15 million this year to expand its tower crane rental fleet in Europe. In all-terrain cranes, the company has new models lined up for launch at Bauma, the world's leading construction machinery trade fair in 2022. These strategic initiatives, along with the company’s acquisition spree, will drive substantial long-term growth.Manitowoc expects its current-year revenues between $1.775 billion and $1.825 billion. The mid-point of the range reflects year-over-year growth of 25%.Share Price PerformanceSo far this year, Manitowoc’s shares have gained 73.4% outperforming the industry’s growth of 17.9%.Image Source: Zacks Investment ResearchZacks Rank and Other Stocks to ConsiderManitowoc currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Some other top-ranked stocks in the Industrial Products sector include Encore Wire Corporation WIRE and Terex Corporation TEX. Both the stocks sport a Zacks Rank #1, at present.Encore Wire has a projected earnings growth rate of 332.6% for fiscal 2021. So far this year, the company’s shares have gained 45%.Terex has an estimated earnings growth rate of 2,207.6% for 2021. The company’s shares have appreciated 47.4% so far this year. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Manitowoc Company, Inc. (MTW): Free Stock Analysis Report Terex Corporation (TEX): Free Stock Analysis Report H&E Equipment Services, Inc. (HEES): Free Stock Analysis Report Encore Wire Corporation (WIRE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research