Newsletter #179 (View other news stories)
Amskan changes hands in management buyout
MULGRAVE, Australia
Thursday, 14 Oct 2004
 Amskan managing director Andrew Hackett-Smith |
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Amskan Ltd, manufacturer of the Fork-ALERT proximity sensor, has changed hands in a management buyout.
Managing director Andrew Hackett-Smith told Forkliftaction.com News that he and former company secretary Denis Clancy completed the purchase from HRL Ltd on October 4. He would not discuss the purchase price.
HRL, an Australian energy, technology and project management company, bought Amskan in 1995, but after refocusing its core businesses, put the company up for sale last year.
Under the new structure, Hackett-Smith continues as managing director, but Clancy expands his role to become commercial director.
The takeover by management follows a 12-month search for a new buyer for the company. Hackett-Smith said he and Clancy were able to strike a mutually-beneficial deal, and he was excited about the new challenge.
"We have a clear plan for what we’d like to achieve with this business, and it should translate into significant growth," he said.
"We intend to capitalise on the interest we have generated in the USA for our Fork-ALERT systems, and generally expand the business in Australia and abroad."
The company’s Sweepscan proximity sensor is used with automatic doors, and is already being distributed in the US by a door manufacturer.
"It’s an exciting phase for us, but nothing’s changed for our customers – same products, same phone number, same website, same people, same quality of service," Hackett-Smith said. "We’re really looking forward to this new challenge."
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