NTP has branches in all Australian states

Jungheinrich has bought a majority stake in NTP Forklifts Australia, one of the largest dealerships in the country.

The purchase price and the size of Jungheinrich's shareholding have not been revealed.

According to a joint statement, "in Jungheinrich, NTP Forklifts Australia has found a strong industrial partner with which to promote and grow a dynamic and sustainable business well into the future".

The retail acquisition in Australia comes in the wake of a similar purchase in Malaysia, where the local Jungheinrich dealership was acquired in April 2015.

NTP Forklifts Australia will continue to operate as an independent brand as part of the Jungheinrich Group.

Headquartered in Adelaide, NTP Forklifts Australia has branch offices in all of Australia's major regions. Besides Jungheinrich, NTP sells Manitou, TCM, Kalmar and Taylor-Dunn products.

Current business with these brands will continue under the new ownership structure - and there is an expectation that additional brands will be added. "In Jungheinrich, NTP has found a strong partner with which we can make our business fit for the future and generate further growth," says company founder Nick Perdelis, who remains in place at NTP as a member of a newly established board of directors.

Jungheinrich doesn't expect any of the rival brands represented by NTP to review their relationships in the light of the German giant's investment.

NTP Forklifts Australia has been the exclusive partner for Jungheinrich products in Australia since 2008.

By taking the majority stake, Jungheinrich is continuing to resolutely enlarge its global footprint in the direct sales business, according to the announcement.

"By leveraging from Jungheinrich's industrial management, we will expand NTP's business with Jungheinrich products in the Australian market significantly and continue to strengthen our position in the Asia Pacific region," says Hans-Georg Frey, Chairman of the Board of Management of Jungheinrich AG.

Established in 1983, NTP employs over 230 staff across six key locations.

NTP Forklifts Australia's existing management will remain in place, headed by both Damien Garvey and Jason Perdelis.