Certex and Forankra expanding jointly in the UK with acquisition of Pritchard Tyrite
With the acquisition of cargo control specialists Pritchard Tyrite, Axel Johnson International’s business group AxLoad opens up for an important expansion within cargo securing and lifting equipment in the UK. Pritchard Tyrite will be managed by Certex UK but also establish the first UK base for Certex’s sister-company, cargo securing products and services supplier, Forankra.
Pritchard Tyrite is one of the UK’s leading importers, manufacturers and distributors of cargo control equipment. The company is a GBP 3 million annual turnover firm with 17 employees and head office in Basingstoke. Pritchard Tyrite’s focus on the transport sector neatly aligns with Certex’s wider focus on wire ropes and lifting gear in the offshore, ports, crane and other major markets. It will also provide a UK base for cargo securing products and services supplier, Forankra.
In addition, the deal includes also Pritchard Tyrite’s sister company TRS Motorsport Equipment, distributors and manufacturers of FIA approved motorsport safety harnesses, road harnesses, vehicle accessories and carbon fibre products. TRS is a pioneer in motorsport safety with a distinguished history and a solid distribution network.
”The acquired companies are two well kept, family operated business. Both are well positioned in their respective market niches and offer us opportunities in terms of synergies as well as market and channel expansion. With Certex UK we have the local management in place to take the lead in this process but also in supporting the establishment of our cargo securing specialist Forankra in the UK,” says Martin Malmvik, CEO and President of Axel Johnson International.
Summarizing the rationale behind the deal, Certex’s Managing Director Kevin Smith explains: “Certex and Forankra are growing organically, but we also have a strong parent company behind us that encourages us to expand further. As is the case with these deals, where there is an opportunity to take on and improve successful organisations in related industries, we will seize it and make the most of our commitment, experience and expertise.
The Pritchard Tyrite and TRS businesses are already successes and bringing them aboard gives us the opportunity to look at new markets and channels closely aligned to our existing businesses and develop our expertise in related sectors. We immediately also open up for an even more attractive offering, providing customers access to an extended range of products and services from Pritchard Tyrite, ourselves and from our sister-company Forankra.”
Certex and Forankra are both part of Axel Johnson International’s business group AxLoad, comprising more than 30 companies specialised in steel wire ropes, lifting and cargo securing solutions for industry. Today the AxLoad business group has annual sales of EUR 350 million and operations in 19 countries.
Certex is a leading provider of steel wire ropes and lifting equipment for customers within the manufacturing, energy and maritime industries in Europe. Forankra, in turn, is a leading European supplier of products, services and solutions for the lashing and securing of cargo within manufacturing, logistics, transports and for OEM-builders of trucks, ships, aircrafts and helicopters.
Managing director of Forankra, Erik Eklöv, reinforces the significance of the deal. “We are extremely pleased to be entering the UK market now. The addition of Pritchard Tyrite and TRS Motorsport Equipment to our European businesses will see us strengthening our product and services offering, while bringing fresh opportunities to new and existing customers.”
For more information, please contact:
Martin Malmvik, CEO and President, Axel Johnson International, +46 (0)708385598, email@example.com
Kevin Smith, Managing Director, Certex UK, +44 7718625492, firstname.lastname@example.org
Erik Eklöv, Managing Director Forankra, +46 (0)703202939, email@example.com
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Axel Johnson International is a privately owned industrial group offering sustainable growth opportunities for aspiring technology businesses. The group comprises more than 90 companies that are experts in their respective segments and add value by improving the efficiency, reliability, quality and safety of industrial operations. Services range from efficient distribution of industrial products to maintenance, support and customised technical solutions. Headquartered in Stockholm, Sweden, Axel Johnson International has 2,640 employees, annual sales of EUR 700 million and operations in more than 25 countries. www.axinter.com