MANITOU (EPA:MTU) - Manitou Group acquires a majority stake in Mawsley Machinery Ltd in the UK

Transparency directive : regulatory news

29/10/2019 18:38

Manitou Group acquires a majority stake in Mawsley Machinery Ltd in the UK

Ancenis, October 29, 2019 - The Manitou group, world leader in all-terrain
material handling, announces the take over of a majority stake in its UK dealer
Mawsley Machinery Ltd, based near Northampton, consecutive to the retirement of
their main shareholders. A privately-owned company founded in 1981, Mawsley
Machinery Ltd supplies construction equipment and services to its customers.
Mawsley Machinery is the historical Manitou Group dealer in the Midlands. Two
current managers of Mawsley are co-investing in the company to carry on this
venture.

Ian Wright and Jane Sheldon, the outgoing Managing Directors of Mawsley
Machinery Ltd commented "we are proud that Mawsley Machinery is moving forward
with a strong, stable base provided by Manitou Group. The expertise and
professionalism of the existing team will ensure its continued success."

Keith Pearce and Sam Sanderson, Mawsley Machinery's new Managing Directors
added that "having the opportunity to partner our main supplier, Manitou, is
welcomed with open arms. This will give us tools to grow further as a full
liner dealer. The partnership will allow us to further develop our level of
customer support which is always at the forefront of Mawsley's business."

Michel Denis, Manitou Group President and CEO, states: "Mawsley Machinery has
got a team with a great expertise, an excellent know-how and a strong position
in its market, especially in the service. Taking over a stake in our historical
partner in the Midlands, we reinforce Manitou Group's position in the UK to
develop equipment distribution and services. In parallel to this long term
strategic approach, we will continue to reinforce and develop all brands
carried by Mawsley Machinery Ltd served in this region."

About Mawsley Machinery Ltd

Mawsley Machinery Ltd was established in 1981, located on the outskirts of
Northampton to supply the growing construction industry with new and used
equipment. Mawsley has grown into a large well trusted machinery and parts
dealership, representing a number of manufacturers with a strong focus on
Manitou product.

With a 2018 revenue of 19.2m£ the Company employed 27 persons.
The Company offers a variety of high quality products and value-added services
to its customers.

About Manitou group

The Manitou Group is a global market leader in rough-terrain handling. It
designs, manufactures, distributes and services equipment for construction,
agriculture and the industry.

The Group's product ranges include all-terrain fixed, rotating and heavy-duty
telehandlers, all-terrain, semi-industrial and industrial masted forklifts,
wheeled or tracked skid-steer loaders, backhoe loaders, access platforms,
truck-mounted forklifts, warehousing equipment and attachments.

Through its iconic brands - Manitou, Gehl, and Mustang - and its network of
1,500 dealers worldwide, the Group offers the best solutions by creating
optimum value for its customers.

With its registered office in France, in 2018 the Group recorded a revenue of
EUR1.9 billion in 140 countries, and it employs 4,400 people all committed to
delivering customer satisfaction.

ISIN code: FR0000038606
Indices: CAC ALL SHARES, CAC ALL-TRADABLE, CAC INDUSTRIALS, CAC MID&SMALL,
CAC SMALL, EN FAMILY BUSINESS

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18/04/2024 20:02

MANITOU (EPA:MTU) - Manitou Group acquires a majority stake in Mawsley Machinery Ltd in the UK

Transparency directive : regulatory news

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