UK mobile crane rental company Baldwins Industrial Services has made its first acquisition since becoming a public company in July last year.

It has bought Loadtite Ltd for £1m ($1.6m).

Based in Bristol, Loadtite has a range of specialist lifting, jacking and winching equipment for sale or hire as well as a service division for industrial hoists and cranes. Baldwins intends to extend the Loadtite brand across its network of 14 branches.

“There are obvious benefits by combining the Loadtite brand and reputation with our strong network of crane hire centres, creating fully equipped lifting equipment hire centres,” said Baldwins chairman and chief executive Richard Baldwin.

For the year to June 1998 Loadtite made profits of £138,000 on sales of £3.3m ($5.3m).