(L-R) Mike Dixon, managing director of FTD and Stephen Culham, sales director of FTD.

Fork Truck Direct (FTD), which sells over 100 new Doosan forklifts annually, has acquired Ipswich-based United Lift Trucks after it was placed in administration on 24 May.

The sales, hire and service firm for Essex, Suffolk, Norfolk and London encountered cash flow problems following the sudden passing of owner Darren White in January.

The acquisition price is confidential.

United Lift Trucks, established in 1977, was purchased by White in 2010. The company has 10 staff and focuses on the TCM, Doosan, JLG, Combilift, Crown, Samuk and AUSA brands. The business will now focus on Doosan forklifts, with its TCM importer role wound up.

The acquisition will help the business to consolidate the gains already made, says FTD managing director Mike Dixon, and open new doors across the South East and East Anglia.

"Naturally, we wish the deal (had been) completed under better circumstances. Darren was a close friend of ours and sadly missed. We are, however, extremely pleased to be able to acquire United, securing the future of the team and ensuring the business continues to grow and develop," Dixon explains.

Administrators said in a statement: "Sadly, in early January 2012, Darren White passed away and it took a number of months before control could be restored to the company.

"The sale has effectively rescued the business, saving all jobs. It is a good example of the positive work carried out by insolvency practitioners."

Dixon credits Doosan's support for the deal. "Thanks to them, we have been able to take advantage of the great work we've carried out throughout our formative years.

"Our aim is to create an efficient and dynamic working environment for both FTD and United. Doosan's confidence and support (for) a UK company like ours is a great boost, helping us to grow our short-term hire fleet by over a third, and sending us well on the way to achieving our overall growth plans," Dixon continues.

Doosan Industrial Vehicle UK general manager Tim Waples has congratulated FTD's efforts to expand the business. "We have a lot of admiration for Fork Truck Direct, being well run, offering a superb regional service and a clear business plan. They are a credit to the Doosan network and this new acquisition is great news for both companies and their customers."

FTD says since it received a six-figure investment from Doosan in 2011, it has aimed to increase its annual turnover, currently in excess of GBP5 million (USD7.7 million), up 35% on last year. The company has invested in IT and workshop facilities, new additions to its sales team and an expanded hire fleet.

Meanwhile, forklift manufacturer Doosan says the acquisition "could prove strategically important for further development in markets around Port of Felixstowe and around Ipswich", as it looks to extend its product range into large capacity trucks.

According to a company spokesman, Doosan will introduce an 18 T forklift in Europe. The previous largest truck had a 16 T capacity. A 25 T truck that has been launched in South Korea will be modified for overseas markets, and is likely to launch at IMHX in Birmingham, UK in March 2013.