23.08.2023

Liquidation for Holland Lift

The owner of Dutch heavy duty scissor lift manufacturer Holland Lift is to cease production, close the company and liquidate the assets.

A statement from the company Pro-Delta Investments - which also owns crane company Hovago and aerial lift rental group Riwal - said:

“After careful consideration, Holland Lift International B.V. and its shareholder, have resolved to terminate the activities and to proceed with the liquidation of the company. Holland Lift, known for its high-quality aerial work platforms, has been facing several challenges in the past few years, among which are substantial increases in steel prices and overall increasing costs, severe supply chain issues due to Covid and the war in the Ukraine and a fierce competition of low-price newcomers.”

“Despite a staff reorganisation in 2021 and heavy investments, which resulted in the launch of new designs and products and other measures taken, it proved not feasible to ensure long-term viability for the company. Holland Lift International B.V. employs around 70 employees in the Netherlands and Germany through its Servi-Tec GmbH operation.”


A little history and background

Holland Lift was established at the end of 1983 by Martin Haak, a highly talented consulting engineer. The company designed and built large, heavy duty self-propelled scissor lifts. The first units were produced in 1984 and the first customer was Hooghovens Steel Works. Holland Lift’s first production model was the 41ft 125EV.

After experiencing financial difficulties in 1993, the company was acquired by German aerospace and industrial group MBB and following a few difficult years the company was put up for sale and acquired by Fil Filipov for Terex in 1998.

Terex almost sold the business to Haulotte in 2001, but Roger Tracey of Stoneham Equipment stepped in to acquire the business in 2002 with two directors, Menno Koel and Pieter Boogert taking up part of the equity. In 2007, the pair obtained private equity funding to acquire the company from Tracey. Towards the end of 2010, Koel acquired Boogert’s shares, giving him a majority stake in the business. In April 2012 Holland Lift acquired the assets of Belgian boom and trailer lift manufacturer SkyHigh, following its closure the previous September.

In 2013 ProDelta Investments, which through Riwal was Holland Lift’s largest customer, acquired the company and Koel departed on completion of the takeover. See: Prodelta acquires Holland Lift

Vertikal Comment

The past 10 years under Pro-Delta ownership have been the most financially stable in Holland Lift’s history. The company builds high quality heavy machines, which were originally only sold in the Netherlands and Germany where companies appreciated the quality and durability of the products and were more than prepared to pay for them.

This was not always the case in other markets such as France, the UK, or even Belgium. However, under Koel’s stewardship, sales were expanded to those and other countries. The company’s narrow models with working heights of 30 metres or more proved ideal for high cube warehouse construction and racking installation, with sales spurred on by the automated warehouse building boom in those countries.

The problem for Holland Lift - and its competitors such as PB and, at one time, Lift-Lux - has always been volume. Many years ago, the company reached a ceiling of 250 to 300 machines a year leading to very long lead times. In addition, as a pure design and assembly business, it was also more vulnerable to supply chain issues than some other manufacturers.

Under Pro-Delta stewardship, production was increased and investments were made to alleviate the situation. However, as increased production came onstream, Dingli arrived with a growing range of models that companies began to purchase because of short delivery times. Finding Dingli products to be good and less expensive, companies stayed with the brand, and more recently, others have started purchasing LGMG scissor lifts.

This is a sad day for the industry - but, as they say, nothing lasts forever.