£100m-turnover group snaps up forklift truck company
Forklift truck supplier and storage company the Amvar Group has been snapped up by Staffordshire-based Dunstall Holdings.
The deal, for an undisclosed sum, includes the two companies in the Amvar Group, Amvar Handling Solutions & Amvar Storage & Workplace Solutions.
The group is based in Cradley Heath and was founded by managing director Malcolm Mitchell in 1998.
It provides material handling, storing and workplace solutions and is an authorised dealer for the TCM range of forklift trucks in the West Midlands area.
Staffordshire-based Dunstall Holdings Ltd, which reportedly has a turnover in excess of £100m, specialises in agricultural equipment supply. It has been expanding in the worklift and materials handling sector with several acquisitions.
The acquisition of Amvar is the third major acquisition completed by Dunstall Holdings following the acquisition of its agricultural business, Rea Valley Tractors in 2010 and Lift West in 2018.
Amvar MD Malcolm Mitchell said: “The purchase of the Amvar Group by Dunstall Holdings Ltd comes after ten years of impressive growth and complements Dunstall’s rapid expansion of their coverage within the UK, strengthening their position in the forklift and materials handling sector.
“The deal will provide additional investment in key areas of Amvar to improve the product and service offerings and build its position in the market.
Thursfields’ corporate team advised on the deal, led by Tim Edwards, a director in the corporate team, and Stewart Coles, a senior associate in the commercial property team.
Tim Edwards said: “We are delighted to have assisted Malcolm on the sale of his business which he has developed over the past 20 years into one of the region’s largest providers of forklift trucks and machinery.”
Wilkes Tranter & Co Accountants and Thursfields Solicitors advised Malcolm Mitchell, while David Williams of Astle Paterson Solicitors and accountants Mazars acted for Dunstall Holdings Ltd.
Pictured: Malcolm Mitchell (centre) with Reece De-Vaney (left) and Tim Edwards of Thursfields Solicitors
