Merino have acquired one of the UK’s leading forklift rental businesses, Knightsbridge Mechanical Handling, to add to their forklift sales, service, and rental business, Stacatruc.
tacatruc, acquired by Merino in June 2021, have purchased a long standing customer, Knightsbridge Mechanical Handling. Based in the North West of England, Knightsbridge represents both geographic expansion for Merino’s forklift investment and an expansion of the group’s fleet of casual and short term hire trucks.
Merino acquired Knightsbridge from the retiring owner-managers, whom founded the group in the 1990s, facilitating the former owners’ desire to retire.
Merino and the combined group’s management team plan to generate positive sale synergies and purchasing savings across the combined entity. In addition, management intend to facilitate the transfer of knowledge between the two teams, with Stacatruc’s expertise in servicing and sales complementing Knightsbridge’s competence in rental and hire.
Merino were supported by Arbuthnot Asset Based Lending, whom expanded their facility with Stacatruc to include Knightsbridge Mechanical Handling. The bank continue to support the growth potential of the group and Merino are delighted to be partnering with them again.
Ben Reavley, of Merino, said: “We are pleased to be able to expand Stacatruc with the acquisition of Knightsbridge Mechanical Handling. Both businesses work closely with each other already making for an exciting integration. Arbuthnot were easy to work with and supportive throughout the transaction – we are very pleased to have them continue to support the group. Overall, we believe this is an excellent step forward for the group.”
Peter Venn, Managing Director of the combined group, said: “We are looking forward to working closely with the Knightsbridge team and integrating the two businesses. The last year has been a positive one for Stacatruc and the prospects for the combined group are compelling.”