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Lavendon Group Plc Annouce the Acquisition of Panther Platform Rentals Limited |
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Lavendon Group plc, Europe’s market leader in the rental of powered access equipment, today announces the acquisition of Panther Work Platforms Limited and its subsidiaries (“Panther”). |
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| Author: Rebecca Coe |
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The acquired business will, for the foreseeable future, continue to be run under the Panther brand and will operate as an independent unit within the Lavendon Group. However, Panther and Nationwide, (Lavendon’s existing UK brand), will take immediate steps to maximise asset-sharing opportunities.
Lavendon’s Chief Executive, Kevin Appleton commented, “The acquisition of Panther will further strengthen our position as the leading choice for the supply of powered access equipment within the UK.
Our existing UK brand, Nationwide, has tended to be seen as a specialist for supplying larger construction projects and services customers, often operating throughout the UK. Panther, on the other hand, has built up some tremendous customer relationships in the regions around their depots, and are less exposed to the construction sector than Nationwide. By building on the complementary strengths and customer base of both businesses we can offer more services to a greater number of customers. That will mean better choice for our customers and improved returns for our shareholders.”
For Panther, joint Managing Director, Richard Miller said, “We believe this is a fantastic move for the customers and staff of Panther. We have developed a strong reputation as a high quality provider of access rental, and entering the Lavendon family strengthens our position as a prominent player in the UK access market. It also means we have access to resources which are unparalleled in our industry and which can offer tremendous career opportunities for our staff. Both Brian Fleckney (joint Managing Director) and I really believe in the strategic sense of this move and look forward to being part of a management team which will change the face of our industry”.
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