Introduction Through Expert Networks
We were introduced to Translift in 2016 by a trusted associate. We concluded there was a need for the existing shareholders to realise their investment and allow the business to develop under new ownership.
Business Insight – Translift Bendi
Translift, a key player in materials handling, stood out as one of the three principal distributors of articulated forklifts in the UK & Ireland.
At the time of acquisition, the business, primarily owned by two individuals, was refocusing on new, unrelated machinery, resulting in underinvestment in its core operations – the sale of new and refurbished forklifts, service and maintenance.
Despite distinctive challenges, the business had a turnover of £14 million and was breakeven. The due diligence process involved reconstructing historic financials due to the absence of management accounts.
Investment in People, Systems & Processes
The business has received, and continues to receive, significant investment in its people, systems and processes.
People
To ensure a smooth transition of ownership, an experienced Managing Director was strategically recruited with a background in the sales and maintenance of an industrial plant.
Over the years, the MD progressed to a Chairman’s role, eventually exiting as part of a shareholder restructure in 2021 with profitability restored.
The Sales Director was subsequently promoted to Managing Director, with a Financial Director now on board to strengthen financial management.
Systems
Strategic investments were made in the rental fleet, and a small bolt-on business was acquired in 2022.
This diversified the rental fleet and expanding capacity, marking a crucial expansion for the business. Further investments installed an ERP system and renovated the premises.
Processes
The commitment to excellence extended to significant infrastructure investment. New quality, purchasing, and health & safety procedures were introduced.
Additionally, a focus on enhancing employee training and development underscored a commitment to continual improvement.
Successful Shareholder Restructure
A strategic shareholder restructure was executed in 2021, allowing some investors to exit whilst rewarding those that were critical to ongoing future success.
Presently, the business generates a turnover of £20 million with EBITDA margins approaching 20%.