20.01.2015

HTC sells hoist division

UK based tower crane company HTC Plant has sold its hoist division to Reco Hoists for an undisclosed fee.

Reco Hoists, a UK subsidiary of Dutch construction equipment rental company Reco Holding, will retain all 41 employees, together with all contracts and agreements. HTC Plant’s contracts manager Marcus Percival will also transfer to Reco Hoists to head the team, while HTC will continue to play an active part during the transition period.

Duncan Salt, managing director of P C Harrington which owns HTC, said: “The core activity at HTC is our tower crane operation, an area that we want to further develop and with the market right for investment we had to make a decision regarding our on-going participation in the hoist rental market. We took the difficult decision and considered a sale as the best option.”

“Reco is an extremely reputable and well thought of hoist business, active in mainland Europe, which has wanted a UK operation for some time. This is a very good fit for them and a good deal for both parties. It gives Reco a ready-made hoist operation in the UK and enables HTC to concentrate more actively on its core crane hire business, which is experiencing strong demand.”

Reco chief operating officer, Edwin Verpoort added: “This is an exciting acquisition for Reco and will provide the business with an opportunity to demonstrate its market strength. The team will continue to be led by Marcus Percival who is looking forward to the challenge. We will carry on the activities of HTC hoists, optimising them where possible with the introduction of the Dutch programme of vertical transportation which includes mast-climbers and scaffold hire and sales.”
HTC Plant originally acquired the hoist division from Hewden Stuart for an undisclosed fee at the end of 2007 – see: Hewden sells hoists division.