25.08.2011

MBO at Falck Schmidt

Danish Based Skako Group has announced that it has sold its Spider lift division – Falck Schmidt as was – to the company's managing director Finn Schlitterlau and financial director Thyge Mikkelsen - trading as TCA Lift

The Denka trailer lift business, which is also based at the Odense plant, is subject to separate negotiations with a group of investors and is expected to be concluded shortly.
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Bei der Vertragsunterzeichnung: Finn Schlitterlau (l.) und Thyge Mikkelsen (r.) umrahmen Lars Bugge, den Vorstandsvorsitzenden von Skako Lift

The spider/Falcon deal is expected to be completed on September 1. 30 staff from Skako/AS will transfer to TCA Lift - (Tall Compact Aerial Lift) - which will also continue to represent Blue Lift in a number of countries.

When the Denka Lift negotiations are complete, it is expected that production of its trailer lifts will be relocated to a separate facility. The Skako/Reachmaster business in the USA is not included in either of the two deals and will, at least in the short term, remain part of Skako.
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Falck Schmidt and Denka came together when Denka's owner, VT Holdings, acquired the Odense based spider lift specialist in 2005. A short time later, the two companies were merged under the name Worldlift Industries but retained their separate brands and separate production facilities in Holbæk – for Denka, and Odense for Falck Schmidt.

In 2009 the classic Holbæk facility was closed, and production of Denka Lifts moved to Odense. In 2010, the owner of VT Holdings Skako decided to rebrand the business, reflecting its intention to integrate the aerial lift business as a core activity. The managing director at the time, Kenneth Loberg was a driving force behind this move. He also transformed the production methods at the lift company, moving to an assembly-based process.

Loberg departed late last year and was replaced by Schlitterlau and was joined a few months ago by Mikkelsen.


Vertikal Comment

The long term future of Skako’s lift business has been doubtful since March when the company said that it was considering its options for the business. So this move at least brings that uncertainty to an end. The fact that it has been purchased by its managers who know the company – warts and all – from the inside is very positive.

Add to this the recent new model introductions, the timing and the fact that it will be concentrating on what it does best and the future looks bright.