Fork lift business stays in the family after ownership change
A company which trains people in handling mechanical equipment has undergone a change of ownership – although it remains a family-run business.
Lee Cox has purchased an 85% stake in Train-a-Lift, based at Charter Avenue Industrial Estate in Coventry, from his second cousin, David Brown in a six-figure deal.
Mr Cox will work alongside his cousin and other shareholder Steve Brown, while David Brown will continue to work within the business in a new role.
Train-a-Lift was formed in 1977 by Mr Cox’s great uncle Jim Brown, and has grown into a business turning over £850,000 a year from hundreds of private and commercial clients, including the likes of Rolls Royce and Britvic.
The firm employs 11 full-time staff and runs training courses on-site and around the UK on the use of equipment such as forklifts and cranes, as well as instructor courses.
Mr Cox was assisted with the purchase of his stake by the corporate finance team at chartered accountants and business advisers Harrison Beale & Owen (HB&O).
This included advice on the valuation of the business, negotiating the terms and structuring the deal. HB&O introduced Thursfields Solicitors to handle the commercial legalities.
Mr Cox, who has assumed the role of managing director five years after first joining the business, said: “Train-a-Lift has always been a family business so I am honoured to keep this record going. I’m proud of the tremendous job the entire Train-a-Lift team has done in getting the business where it is today, and of the enviable client list we have built.”
Greg Philp, Head of Corporate Finance at HB&O, said: “To see a family-run business going from strength-to-strength after this length of time is a fantastic testament to the company and the people behind it.”
Pictured from left: Tim Edwards, Greg Philp and Lee Cox.