Said Lloyds British Testing’s chief executive Ian White: “It was important for us to return to private status so we can focus on putting profits back into the business.”
Lloyds floated four years ago and White admitted that he realised that was not the right decision as soon as 12 months later.
Rota, a leading lifting and handling solutions provider to international steel, water, rail, aerospace and construction industries, is to be integrated into Lloyds British Testing and will be known as the Lloyds Rota division. Clients include British Airways, Severn Trent Water, BAE Systems and the Environmental Agency.
The business, which currently turns over £1m (Eur 1.4m) per annum, will be moving its administrative base and key personnel from Chapel Street, in Netherton, to Lloyds British’s West Bromwich site.
Managing director Ian Payne will become general manager of Lloyds Rota and the division’s engineering services will be available nationwide through Lloyds’ extensive national network of 10 service centres.
White added: “Lloyds has always been an organisation with a strong acquisitive history, and this is set to continue. Our strategy is to boost customer service through a complementary mix of organic growth and skills acquisition in relevant markets.”
White also said that bringing Rota Handling under the Lloyds umbrella is good news for its existing customers as well as Rota’s. The deal will allow it, according to White, to reinforce its expertise in lifting and handling solutions and develop its products and services to benefit everyone.
With Lloyds’ annual turnover now in excess of £17m (Eur 25m), the addition of Rota Handling boosts the number of employees to almost 300.
White would not rule out further expansion.
“The Lloyds long term aim,” he said, “is to build an international lifting equipment engineering group of companies and we are exploring new avenues of business all the time.”
