AAL acquires assets of Hyster Retail and National Fleet Network (NFN)
01 July, 2011
Adapt-A-Lift Forklift Rentals and Sales and NACCO Materials Handling Group, Inc. today announced that the companies have signed an agreement under which Adapt-A-Lift (AAL) will acquire NACCO Materials Handling Group's Hyster® retail operations and the National Fleet Network's (NFN) rental fleet within Australia.
Adapt-A-Lift is Australia's largest privately owned forklift rental and sales company, a leader in forklift fleet management solutions, with a reputation for being an innovative, technology based organisation, always looking for opportunities to grow, even in this uncertain economic climate.
Recently a unique opportunity presented itself for Adapt-A-Lift to cement itself as a key player in the retail area by entering into an agreement to acquire the Hyster® retail operations and take over NFN's fleet network within Australia. Already a leader in the rental sector, this acquisition will enhance AAL's first-class service and enable the company to become a market leader in the retail sector by aligning with one of the largest and most renowned forklift manufacturers in the world.
Under the terms of the agreement, AAL has purchased selected Hyster® Retail and National Fleet Network assets, and secured the rights to the Hyster® brand name, registered trademarks and associated intellectual property within Australia.
AAL will build upon its forklift fleet management system by extending its rental fleet from 5,300 units to over 10,500 nationwide, as well as creating an immediate opportunity to compete in the national retail and parts market.
The acquisition will increase AAL's national representation from five dedicated branches and service centres to fourteen.
"This acquisition represents a significant step forward in developing our core business" said Peter Whiffen, Managing Director, Adapt-A-Lift Forklift Rentals and Sales. "In addition, we will now have a greater presence in the retail sector, where we see significant opportunities for growth".
AAL is scheduled to take over Hyster's retail operations and NFN on 30 June 2009. This will include a 90 day transition plan, ending 28 September 2009. Over these 90 days, AAL will commence the process of integrating the current NMHG operations into the AAL business. As part of this process, AAL intends to offer employment to as many current NFN/Hyster employees as operationally practicable.
Filed under: General News
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