14.06.2005

Palfinger buys UK Tail lift market leader

Palfinger AG has announced the acquisition of Ratcliff Tail Lifts Ltd, a subsidiary of the Ratcliff Group. Ratcliff claims an over 30 percent share of the UK commercial vehicle tail lift market. The company produces a full range of tail lifts for cargo and passenger lifts for the loading of people in wheel chairs into vehicles.

The company employs over 200 staff, largely at its Welwyn Garden City production plant and Garforth, Leeds parts and service base. It generates annual sales in the region of £ 20 million (€30 million). Its customer base is predominantly made up of major transport fleets such as retailers, logistics, distribution and service operations, rental companies and community transport operators.

The company was founded over 42 years ago by Ted Ratcliff and is owned today by the founders son John and daughter Jean. The Ratcliffs will continue with the other companies within the Ratcliff group, which includes Stone Hardy, a tail lift service company and Wessex which makes lifts for the dissabled.

John Ratcliff, a spry 69, said that the group directors decided five years ago that they wanted to have a "Nice Transition for the core tail lift business" "and in Palfinger we have found a company that like us has family ownership and cares about its people" "Palfinger has the same oulook in terms of quality and top class service as we have strived for. The company will be in good hands" "We hope you do with Ratcliff what you have done with cranes" Ratcliff told Palfinger seniors managers at a press conference today. He also thanked and praised Palfinger Marketing director Herbert Ortner, who headed up the Ratcliff Acquisition.
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Herbert Ortner

The UK is Europe’s largest market for tail lifts with a value of around £40 million (€60 million) and second only to the American market, in terms of volume.
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A top of the line Palfinger Palgate tail lift

The acquisition of Ratcliff makes Palfinger the clear market leader in the UK market and joint second in Europe as a whole, with combined Ratcliff/Palgate revenues of €40 million. It also broadens its current Palgate range with Ratcliff’s innovative and proven products.

Palfinger and Ratcliff have been co-operating in the UK since they launched the Palfinger Tuckaway product at the recent CV show at the NEC.
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The Tuckaway already carries the Ratcliff-Palfinger brand

Ratcliff Tail lifts Ltd Managing director John Lane and his management team will stay on and head up the Palfinger-Ratcliff business, which will become the "worldwide competence centre" for Palfinger tailifts.

„We are now the number one in Europe’s biggest market for tail lifts“, says Palfinger CEO Wolfgang Anzengruber. With Ratcliff Tail Lifts Ltd. we have acquired a solid and profitable base in the tail lift business with a relatively low operational risk“, concludes Anzengruber.
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Palfinger CEO Wolfgang Anzengruber

The two companies will be integrated as soon as possible, whilst existing production, sales and service arrangements will remain unchanged. Ratcliff Tail Lifts Ltd. will become a 100 percent subsidiary of Palfinger AG. Ratcliff will continue to exist as a trade and company name.

The existing management team of Ratcliff Tail Lifts Ltd. will continue to run the business under the new ownership. The business will retain a level of autonomy and independence, enabling the local management to take all necessary steps to further increase profitability.

„We expect additional synergies especially in the purchasing area, which will gradually have a positive effect on operational and financial results“, explains Palfinger marketing director Herbert Ortner.

Since 2003/2004, the United Kingdom has been the biggest European market. Steady growth in sales has been sustained while the market has remained buoyant. Importantly, the market in the UK has always expressed an emphasis and preference for service quality and premium branding. Future operating regulations and safety legislation are also expected to increase demand in the replacement market and encourage investment in higher specification equipment.

The existing marketing, distribution and servicing arrangements for Palfinger cranes, hook-loaders, access platforms and forklifts are not affected by this acquisition.

The deal is Subject to the regulatory approval by the Austrian antitrust authority, Palfinger AG is listed on the Vienna stock exchange.