It is now official the long rumoured joint venture between the UK’s Skyline Tower Cranes Services and Belgium’s Arcomet has been confirmed.
The two companies are putting their resources into a new jointly held company named Skyline Arcomet Ltd. The new business will operate across the UK as a tower crane rental, distribution and service provider. The ownership split between the Whitford family that owns Skyline and Arcomet has not been released, but we understand that Arcomet holds just over 50 percent of the shares in the new business.
Skyline Arcomet will operate from the Skyline offices in West Thurrock, Grays, Essex, with the current team of employees and will progressively take over all the Arcomet activities in the UK, including its 70 top slewing tower cranes. It will also remain a distributor for Terex tower cranes in the UK.
The company plans include development of a new yard and additional sales and service staff to support the larger rental operations, develop the distribution business and maintain the current level of customer satisfaction. Skyline’s founder and chief executive Darren Whitford will remain as managing director of the new company.
“I am thrilled to be part of one of the largest tower crane service companies in the world and consolidate our position in the UK market. With this merger, we will have much stronger capabilities to satisfy our customers growing needs” said Whitford.
Arcomet chief executive Philippe Cohet added: “For the Arcomet group, this is a come back to an important market in Europe and the opportunity to partner with a solid local team. It also illustrates our renewed growth strategy in Europe”.
The news that Arcomet has bought into Skyline Tower Cranes has been circulating for some time now, but confirming hard facts not that easy. The move looks to be positive for both parties, giving Arcomet a firmer footing in the UK again, while providing Skyline with additional resources to expand and improve the business.
Skyline is a financially sound business with gross assets of over £6.5 million netting out to more than £1.5 million as of March last year. Arcomet made a major push into the UK in 2005 through Midland Self-Erectors and Arcomet Tower Cranes. It also owned Airtek Safety which became a wholly owned business in 2007. It then pulled back from the UK as the recession began to take its toll after 2008/9. Since then it has retained a low level operation in the UK. In recent years however it has benefited from the strong pick up in the local market, leading up to this latest move.