Reid Lifting acquired by Pure Lifting14 May 2019
Reid Lifting, a UK-based manufacturer of lightweight gantry and davit cranes, has been purchased by Pure Lifting, for an undisclosed amount.
The acquisition by Pure Lifting—a holding company formed to create a global portfolio of innovative, portable equipment businesses—includes all staff and assets, though not the company’s buildings and land at the Newhouse Farm Industrial Estate in Wales, which will remain in the ownership of former owner and outgoing managing director Nick Battersby.
He and Elisabeta Battersby will transition into retirement, with Nick remaining with the company as a director for the foreseeable future.
Simon Luke, who has many years of experience in ownership and leadership roles, primarily in the fall protection sector, has taken up the role of managing director.
The acquisition will create employment opportunities, including new sales leadership, in addition to positions in marketing and operations. The company’s growth strategy will be centred around penetration into markets where the Reid brand is currently a relative newcomer, with North America a primary target.
Luke, one of a number of investors within the recently-formed Pure Lifting, said: “Nick and his team have done a tremendous job of positioning Reid as a standout manufacturer in the portable lifting equipment marketplace; we look forward to building on its success in addition to realising expansion and global growth potential. Continued innovation and an elevated profile of the many core strengths of the product range will be hallmarks of our ownership.
“Reid have done a fine job of maximising revenue from European markets and many others further afield, but we have earmarked a number of regions that represent growth potential, including the US, Canada, and South America. We understand the requirement to localise the product offering and deliver to stateside users, for example, unrivalled solutions in our sector through a vibrant distributor network.”
Nick Battersby said: “Elisabeta and I have been planning an exit strategy for the past 18 months. We have repelled purchasing interest in the past but the eventual sale represents conclusion of a carefully managed process that results in a new ownership concept that can take the company—and existing and prospective employees—to the next level. Importantly, Pure wants to invest in the existing facility and give energy to global growth endeavours from our Chepstow home. Elisabeta and I are certainly excited about witnessing continued expansion, albeit eventually from afar.
“Combining the new management team with a product range that presents clear advantages in terms of ease of assembly, range of capacity, diversity, and conformity with global certifications and safety standards, certainly whets the appetite. It’s business as usual for partners and customers in the short-term, yet plans are already afoot to increase investment in product development and innovation, which will remain at the company’s core.”