Nick Battersby and Simon Luke mark the change of ownership at Reid Lifting.

Reid Lifting, a manufacturer of lightweight gantry and davit cranes, has been purchased by Pure Lifting, a holding company formed to create a global portfolio of innovative, portable equipment businesses.

The value of the transaction has not been disclosed.

The acquisition includes all staff and assets, but not the company's buildings and land, located on the Newhouse Farm Industrial Estate, which will remain in the ownership of Nick Battersby, former owner of Reid and outgoing managing director.

The sale of the business will allow Nick and Elisabeta Battersby to transition into retirement, although the former will remain with the company as a director for the foreseeable future.

Simon Luke, whose curriculum vitae includes many years of experience in ownership and leadership roles, principally in the fall protection sector, has taken up the position of incoming managing director, with immediate effect.

Luke, one of a number of investors within the recently formed Pure Lifting, says: "Nick and his team have done a tremendous job of positioning Reid as a standout manufacturer in the portable lifting equipment marketplace; we look forward to building on its success in addition to realising expansion and global growth potential. Continued innovation and an elevated profile of the many core strengths of the product range will be hallmarks of our ownership."

The acquisition will create immediate employment opportunities with new sales leadership being sought, in addition to positions in marketing and operations.