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Briggs International Announces Proposed Acquisition of Hyster Lift Truck Assets and Facilities from Barloworld Handling
DALLAS, Jan 25, 2012 (BUSINESS WIRE) -- Briggs International, Inc., a Sammons Enterprises, Inc. company, announced today that its subsidiary Briggs Equipment has executed a letter of interest to acquire a portion of Barloworld Handling's assets. With this acquisition, Hyster Company will appoint Briggs as an authorized dealer for the sales and service of Hyster brand lift trucks in a portion of Barloworld's territory. Barloworld Handling has accepted Briggs' letter of interest. Briggs is conducting due diligence of Barloworld's US materials handling operations. Completing the transaction is subject to execution of a definitive and binding agreement.
Once completed, this transaction will position Briggs as one of the largest Hyster dealers in the United States, with responsibility for a large portion of the southern United States. Briggs will sell and service Hyster brand lift trucks in Florida, Arkansas and Atlanta, and portions of North Carolina, South Carolina, Georgia, Alabama, Mississippi and Tennessee. Briggs will assume dealer responsibilities in these territories.
Briggs is currently one of the largest dealers of Yale brand lift trucks, with branches servicing Yale products and customers in portions of Texas, Louisiana, Mississippi, Alabama and Georgia. Briggs International subsidiaries also are the Yale dealers for the United Kingdom and the Hyster and Yale dealer for most of Mexico. Both Hyster Company and Yale Materials Handling Corporation are operating divisions of NACCO Materials Handling Group.
"Briggs is excited by the potential to expand both its footprint and product offering in the United States with the addition of the Hyster brand," said Dave Bratton, CEO of Sammons Enterprises. "The growth of our materials handing business brings more opportunities to our employees and better service to our customers. This acquisition provides our customers with more product options and quicker response times."
"We are confident Hyster products combined with Briggs Equipment sales, service and material handling expertise will deliver excellent customer satisfaction," said Jonathan Dawley, president of Hyster Distribution. "We look forward to continuing our deep relationships with current Hyster customers, as well as developing a solid relationship with new customers through Briggs' efforts."
About Briggs International, Inc.
Headquartered in Dallas, Briggs International, Inc. and its subsidiaries are leading providers and renters of premium, materials handling equipment, currently with locations in the United States, the United Kingdom and Mexico. In addition to providing Yale brand lift truck and fleet management services, Briggs also represents a variety of other materials handling equipment manufacturers. Offering full-service solutions to customers, Briggs supports its customers with financing, safety training, a market-leading parts inventory and 24-hours-a-day, 7-days-a-week service programs. The company's 1,000 service technicians are situated at 31 locations.
More information at www.briggsequipment.com. Briggs International, Inc. is a Sammons Enterprises, Inc. company. Briggs employs approximately 1,700 people.
About Hyster Company
Based in Greenville, N.C., Hyster Company ( www.hyster.com ) is a leading worldwide lift truck designer and manufacturer. Hyster Company offers 130 models configured for gasoline, LPG, diesel and electric power, with the widest capacity range in the industry -- from 2,000 to 115,000 lbs. Supported by one of the industry's largest and most experienced dealer network, Hyster Company builds tough, durable lift trucks that deliver high productivity, low total cost of ownership, easy serviceability and advanced ergonomic features; accompanied by outstanding parts, service and training support.
Hyster Company is an operating division of NACCO Materials Handling Group, Inc. (NMHG), which employs approximately 5,000 people worldwide. NMHG is headquartered in Cleveland, Ohio, and is a wholly owned subsidiary of NACCO Industries, Inc. NC -0.06%.
Briggs, Hyster and Yale are registered trademarks of the respective owners.
SOURCE: Briggs International, Inc.