Investors buy into forklift firm
TWO investors have bought into Flintshire-based forklift truck supplier Hannaman Engineering.
Steve Downey and David Brown received backing from Finance Wales which uses Government and European Union money to attract investment.
Debt finance was provided by Aldermore Bank with Lloyds Bank providing working capital. The value of the deal was not disclosed.
The Deeside business, which was being run by John Perelli, is being rebranded Hannaman Material Handling. Mr Downey has become managing director while Mr Brown is operations director.
Mr Downey said: “I believe that Hannaman Material Handling will now go from strength to strength and we are excited to have the opportunity to put the company back on the map.”
Kevan Shaw, a director at Sheffield-based Castle Square Corporate Finance, advised the buy-in team while Stoke-based Beswicks Solicitors provided legal advice.
