15.07.2011

Merlo takes over in UK

Italian telehandler manufacturer Merlo has acquired 100% of the shares in its UK distribution company – Merlo UK.

The move comes as Merlo UK’s joint founder and shareholder John Iles, now 73, retires as managing director. His shares in the business have been amicably acquired by the Merlo group, giving it 100 percent of the company’s equity.

Iles will stay on as a non-executive director and deputy chairman so that his expertise and experience will continue to be available to the company, at least during an extended transition period.
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John Iles

Merlo has appointed Maurizio Ganio-Mego as the new general manager of Merlo UK, speaking of the changes he said: “John and his team have set a tremendous foundation for the Merlo product in the UK. Without their experience and local knowledge, it would have been much more difficult to successfully penetrate the market here. John is, quite literally an icon of the rough terrain truck market in the UK and we are delighted to retain his experience”

“The Merlo group plans considerable expansion of its UK business and this move opens the possibility for more investment in order to achieve the longer-term aims of the group.”

Merlo already owns its distribution companies in France, Spain and Australia and has a joint venture in Germany. The company says that it believes in a ‘hands-on’ approach, in order to allow it to be closer to the market and it hopes that its dealers and end users will see this as a positive step for the future, indicating its faith and commitment to the UK market.

Merlo UK had revenues in 2008 of over £28 million, although this slipped to £just under £20 million last year the company has remained profitable throughout the recession and is in strong financial shape.