The Palfinger UK division of T H White has acquired parts, service and crane mounting company Truck Hydraulic Services (THS) of Bardon, Leicestershire located on the M1 motorway between Leicester and Derby.
Palfinger UK says that it had been holding discussions with the company for several months to find a deal that appealed equally to both parties. This has now been achieved, with all THS staff - apart from managing director Greg Wykes who plans to retire - remaining on board and becoming Palfinger UK employees, with the aim to maintain the relationships with customers and the skills, knowledge and experience of the staff.
Palfinger UK manging director Alan Johnson said: “The acquisition of Truck Hydraulic Services aligns with our strategic aspirations to bolster our field service and workshop capabilities throughout the Midlands, bridging the gap between our depots in Devizes and Bradford. It creates an even more accessible business with scale to meet our customer’s needs."
Truck Hydraulic Services was established in 1987, with the current company incorporated in 2000, moving to its purpose-built facility in Bardon, North Leicestershire in 2004. It currently focuses on Fassi, Palfinger and Terex Atlas cranes, as well as Kinshofer and Edbro attachments and sells Nolim outrigger mats.
The company is owned by managing director Greg Wykes and two co-directors Chris Armitage, and Steven Mcgarry. While the company does not publish details of its revenues or profit, its balance sheet has been improving at a steady pace over the past three years with a tangible net worth as of last April of £350,000 and a similar level of working capital.