QFS Australia Pty Ltd, part of the TVH Group, of Belgium, has acquired Affordable Parts Pty Ltd, a leader in the Victorian forklift spares market.
QFS Australia chief executive Steve Cunliffe said the acquisition was finalised on January 20. The purchase price was not disclosed.
The acquisition of Affordable Parts, "a fast-growing local business with huge potential", expanded QFS's existing presence in Victoria.
Affordable Parts founder and managing director Perry Mougos, who continues as business development manager with QFS, said all staff had been retained.
Joining a "progressive" company like QFS was "very exciting" and ensured Affordable Parts's customers would continue to receive excellent customer service and support, Mr Mougos said.
"This move means our customers have access to a much greater range and number of forklift spares, but can be assured of even better support."
Mr Mougos, formerly a parts manager at one of Australia's largest forklift dealerships, founded Affordable Parts in December 2000, quickly developing the business into a strong force in the Melbourne market.
Mr Cunliffe said the acquisition further broadened QFS's customer base, allowed a better focus on customer service, and ensured the company's status as the largest all-makes forklift spares company in Australia.