Lifting equipment company acquired by Swedish conglomerate Axel Johnson as part of its bid to increase market share in the UK
A family-owned company specializing in lifting equipment has been sold to a Swedish conglomerate seeking to strengthen its presence in the UK market.
Lifting Gear UK, based in Skelmersdale, has been sold to the lifting solutions arm of Axel Johnson International.
West Lancashire is the UK’s largest private supplier of lifting equipment. It was founded in 2007 in Leyland and has 12 UK depots stretching from Glasgow to Bridgwater in Somerset.
Axel Johnson has 150 companies in 30 countries.
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Ralf Wiberg, Managing Director of Lifting Solutions, a business group within Axel Johnson International, said: “We are very excited to expand our offering into the lift rental market, which , we believe, will be the cornerstone of our future growth and increased focus. on sustainable customer offers.
“Lifting Gear UK has a well established brand and dedicated colleagues with a dynamic attitude which we believe will significantly contribute to our group. “
Founder Chris Turner said: “I think Axel Johnson International is the perfect owner to help grow the business and brand recognition of Lifting Gear UK. I am convinced that the culture of the group and the know-how of the industry will support the future growth of the company. I want to thank our loyal employees whose dedication and hard work have made the company the success it is today.
Managing Director Andrew Harrison added, “Becoming a member of the Lifting Solutions group will provide us with an excellent platform to further expand our presence and streamline our supply chain. We look forward to working more closely with the group to further improve our excellent customer service. “
The shareholders of Lifting Gear UK were advised by Grant Thornton’s team of Usman Malik, Chris Ryan, Simon Keppie and James Boreman.
Usman Malik, Head of Business Services Consulting at Grant Thornton, said: “The acquisition is a great strategic fit for all parties and a great result for the founders of Lifting Gear UK, who have worked incredibly hard to create a excellent and highly regarded Company. We look forward to seeing the combined group grow stronger. “
Other advisers included accountants NR Barton and the law firm Pinsent Masons. Axel Johnson has been advised by law firm Knights and corporate finance firm BHP.