23.04.2012

Lifterz expands as ownership changes

LSG Industrials has acquired a controlling interest in UK based powered access company Lifterz and announced the brand's move into crane rental.

The move follows LSG’s capital investment in Lifterz just over two years ago, as part of the transaction, Lifterz founding director, Malcolm Bowers, has been appointed as a director of LSG Industrials and, having rolled his interest in Lifterz into LSG, he becomes an investment partner in the business alongside Patrick Leoni Sceti, Elio Leoni Sceti, and Marco Fabbricini.

LSG is an industrial investment group with a portfolio of investments in businesses in the service and industrial sectors. The company plans to grow and develop through finding synergies between its businesses along with new start-ups, management buy outs, management buy ins, outright purchases and business rescues.

As part of this strategy, the company has also announced that it is launching Lifterz Cranes Ltd, which will provide mobile, spider and crawler crane rental and lifting solutions in the South West from an existing operation in Plymouth. In this venture it is backing an experienced management team Toby Taylor and Miles Barker.

Sceti said: “Having Malcolm on board gives us the industrial credibility and knowledge which, matched with our heavyweight team of financial and investment experts, gives us the perfect mix of skills to grow LSGI to a significant specialist investment group.”

“My time with Lifterz has given me an insight into the funding problems associated with this industry. We are now in a position to help other businesses with the ‘arm’s length’ support of experienced people behind them.”

Bowers added: “Our plan is to acquire, consolidate and back successful people who have sound business plans. We are actively looking for opportunities and are open to approaches from those with investable ideas and businesses.”

“My role is gradually changing as I assist the LSGI team in developing the strategy for our industrial group. Over the next twelve months, therefore, we hope to appoint someone to replace me in Lifterz to work alongside Ben Bowers, who is now its largest minority shareholder, in managing our £5 million business and growing it further.”