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GIS acquires UK distributor

4. July 2018 | Comments (0)

Swiss electric chain hoist and light crane manufacturer GIS has acquired its UK distributor Lift Turn Move (LTM) from owners John Jones - who is also chief executive, David King, Dan Holme and David Ward.

Based in Bromborough, north west England, LTM was founded in 2004 and is a full member of the Lifting Equipment Engineers Association (LEEA). Its product range includes GIS electric chain hoists, Planeta manual handling equipment and chain hoists and other related components. LTM sells direct and though a network of 300 local dealers. No details of the transaction have been disclosed.

David King, who has taken over as chief executive following the retirement of John Jones, said: “The LTM business is already an experienced and competent operation in its own right, but becoming part of the GIS organisation will add to it even further. in addition to benefits to our customers, from an internal perspective, the acquisition will create opportunities for our team of engineers and lifting industry experts. We are all tremendously excited about the immediate and long-term future and look forward to opening a new chapter under Swiss ownership.”

John Jones added: “With GIS being our main supplier of electric chain hoists and crane components, the acquisition represents the perfect succession plan, whilst giving me the opportunity to take a step back and retire. I have no doubt that GIS will be able to fully support the further developments of LTM after my retirement. The takeover guarantees stability in the company, which was of great importance to myself, fellow shareholders and, of course, our customers. On a personal note I would like to wish the new LTM team a very successful future.”

GIS chief executive Ivan Muri said: “We are delighted to complete a strategic acquisition, mindful of our intent to continue the growth of our product range in the important UK marketplace. I warmly welcome LTM to the GIS family and we are looking forward to working with the team. As well as a track record of success and a wealth of experience in supplying the UK market with our products for use in both the industrial and live events sectors, the team at LTM gives us access to unparalleled wisdom and knowledge on the entertainment market generally, and we look forward to integrating this expertise into our wider organisation.”
Versalift

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