Newsletter #078 (View other news stories)
TVH BUYS MAJORITY SHAREHOLDING IN QFS AUSTRALIA
BRISBANE, Australia
Thursday, 10 Oct 2002
TVH Forklift Parts NV SA has bought a 75 percent shareholding in QFS Australia, an Australian forklift parts supply company servicing customers in Asia-Pacific, Europe, the USA and the United Kingdom.
The purchase price was not released.
QFS general manager Steve Cunliffe said the acquisition substantially broadened the company’s presence and product offering in the Asia-Pacific region. The sale gives QFS, which deals predominantly in Japanese forklift spares, access to TVH’s more than 270,000 line items covering more than 50 forklift brands.
TVH’s 75 percent shareholding was acquired from QFS founder Branko Brkic, who has since retired from the business. Mr Brkic founded QFS with one location in Brisbane, Queensland, in 1985, and had grown the company to five locations Australia-wide, Mr Cunliffe said.
"I cannot think of a better company to be investing in our business. To attract such an investment from a major global player in TVH is real recognition of the success QFS has enjoyed in the world market," he said.
A TVH spokesperson said the QFS shareholding was an attractive opportunity and in line with the company’s growth strategy.
"The synergies gained through this acquisition are immediate and obvious for both companies. QFS is a solid business with good people as a foundation, so the investment makes good sense for TVH," he said.
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