13.03.2006

Tanfield preparing to surprise

The Tanfield Group Plc, owner of Aerial Lift, is to raise up to £12 million to buy what it refers to as a “global OEM (original equipment manufacturer)”.

Roy Stanley, Tanfield chairman and chief executive, said: "This motion received almost unanimous backing from our shareholders, which shows the level of support we enjoy in the City.

Stanley is remaining tight-lipped about the identity of the potential acquisition, saying only that it will surprise a lot of people.

"Deals of this nature can fall through at the last minute on a legal technicality, so we don't want to start counting our chickens just yet," he said.

"All I can say is that it would be a fantastic fit with our existing operations. It is a well respected brand name in its field, with operations in the US, Asia and Europe. This deal has the potential to make us a truly global player, while providing a bridgehead into new foreign markets for our existing brands."

Vertikal Comment

Tanfield is putting a great deal of effort into the access business and has already made a significant impact, rejuvenating what was a fading brand. It is determined to build the company into a significant player in the world access market.

While the company is not saying that this acquisition is to build on its Aerial lift all indications are that this is what the buy will be. Expect the acquisition to add a range of self propelled lifts to the company’s product range.

This however is merely our prediction, and our guess is only as good as yours.

Watch this space!