Swedish investment group Amplex AB has acquired all shares in the British company APP Lifting Services Ltd.
The seller is the company's managing director, Paul Wright, who set the business up in the 1990s. He will continue to run the company under the new ownership.
APP Lifting Services sells, hires and tests standard lifting tackle as well as designing and fabricating more specialist gear such as spreader beams, offering both standard products and customised solutions.
It operates from Doncaster, with a satellite depot in Barking in east London, from where it rents and sells standard lifting products. The company has 23 employees and annual sales of approximately 拢3.5m.
The Amplex group includes approximately 30 companies with operations mainly within lifting technology and materials handling, workplace safety, and lighting.
Henrik Johansson, head of Amplex鈥檚 industrial business division, said: 鈥淎PP Lifting Services has a strong offering and high technical expertise in its market niche, which is customised solutions for heavy lifting. The company's products complement our already broad product range in lifting technology and material handling, and add valuable customer relationships in the UK.鈥�
Paul Wright said: 鈥淚 am very pleased to hand over ownership of APP to Amplex, which is a financially stable, committed and long-term owner that strongly believes in the power of good entrepreneurship. Within the Amplex Group, APP will receive the support and tools it needs to continue its development, which will benefit our highly valued customers and employees.鈥�
Got a story? Email news@theconstructionindex.co.uk
