Lifting gear specialists Certex UK based at the Caerphilly Business Park, Caerphilly, has become part of worldwide and privately-owned Axel Johnson International.
Certex's three owner-directors, who acquired Certex UK from Bridon International in 2005 as the result of a management buyout, agreed to sell Certex UK for an undisclosed sum to Forankra International AB, a Swedish subsidiary of Axel Johnson International and a market leader in the supply of lifting and lashing equipment across Europe. The Caerphilly branch is one of 15 UK regional distribution centres included in the sale.
The purchase is being seen as an invaluable growth opportunity for all Certex branches allowing the company to build on its success since the three current owners Tony Stringer (MD), Charles Gillespie (sales and marketing) and Kevin Smith (operations) bought the company three years ago. Under their leadership, Certex's annual turnover has grown from £12.5m to in excess of £18m with a related profit increase for the same period and the number of employees across all branches rising from 154 to 185.
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Pat Nelmes, manager of the Caerphilly branch, the sale will improve service at a local level by allowing Certex UK to source new products and suppliers using Forankra's increased purchasing power.
"We will also benefit from integrated IT systems giving stock visibility across Europe and will have access to funding to accelerate Certex UK's acquisition strategy," she said.
Another advantage will be Certex's increased international offshore presence that will undoubtedly increase the company's market share of the UK Offshore market.
Certex UK managing director, Tony Stringer, said: "When Axel Johnson first approached us last year it was not part of our business plan to seek a purchaser but it soon became apparent we could benefit from the commercial strength of joining such a prestigious international group without losing out on any of the autonomy and customer service we enjoy."
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