As predicted by T&Lnews some weeks ago, Adapt-A-Lift Forklift Rentals and Sales (AAL) has acquired the assets of Hyster retail and National Fleet Network (NFN) to become the Australian distributor of Hyster products.
Adapt-A-Lift Forklift Rental and Sales and NACCO Materials Handling Group, Inc. has 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 said to be Australia’s largest privately-owned forklift rental and sales company. 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. This acquisition will grow AAL’s service and enable the company to become a market leader in the retail sector by aligning with one of the largest forklift manufactures 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 Rental and Sales. “In addition, we will now have a greater presence in the retail sector, where we see significant opportunities for growth.”
AAL has taken over Hyster’s retail operations and NFN on 30 June 2009. There willbe 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.
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