German group Transnorm has taken over Sovex, acquiring 100 per cent of the company’s shares from founders David Lindfield, Malcolm Dooley and their co-shareholders.
Sovex, based in Prenton on the Wirral, has expanded with operations in the Netherlands, Malaysia and the US. The company offers loading and unloading modules. It generated sales of over £20 million in 2014.
Transnorm said both founding shareholders and management will continue to actively support the company’s future development.
“The company is well-positioned to further benefit from global mega-trends such as the increasing importance of e-commerce and intra-logistics,” said Georg Waldmüller, member of the global management board of Transnorm Group.
“The module portfolio of Sovex perfectly complements Transnorm’s module portfolio, and our geographical footprint offers excellent opportunities to support Sovex’s customers even better globally.”
David Lindfield, executive chairman of Sovex, said: “I am grateful for the strong support and the commitment of our shareholders and stakeholders over the last years, and we are excited to launch the next step of our development. Transnorm is the ideal partner for us as we accelerate our efforts to serve our international customers even better by use the existing global footprint of Transnorm, as well as driving product innovations.”