 Intrupa's Singapore facility will add to TVH's global distribution network. |
By Christine LiewTVH Forklift Parts NV (TVH), of Waregem, Belgium, has acquired the global materials handling activities of IMC Holdings Inc, of Illinois, USA, for an undisclosed sum.
The acquisition comes after TVH announced the purchase of Belgian forklift sales and rental company Euro Forklifts in July (
Forkliftaction.com News #269).
IMC, headquartered in Grayslake, Illinois, is active in the world market through the LPM, Intrupa and CMC subsidiaries and brands. According to a TVH statement, IMC's 2005 consolidated turnover was about USD100 million, achieved mostly via its North America and Mexico businesses. It also has companies in Brazil, Singapore and Europe.
TVH and IMC are leading distributors of replacement parts and accessories for OEM forklifts. Both companies distribute and sell parts for access equipment and in-plant industrial equipment. TVH, a family-owned company, was established in Belgium in 1969. It employs more than 1,600 people and has customers in 162 countries. Systems Material Handling (SMH) represents TVH in the USA, with more than 400 employees working at five facilities.
TVH marketing manager Lieven Pauwels said IMC's success in the USA was the main reason for the acquisition.
"The takeover was mainly done because of Intrupa in America, since they were fairly small in Europe.
"Planning this acquisition started a while ago. TVH wants to be a true one-stop-shop for customers and therefore TVH is forced to keep growing," he said.
TVH's global distribution network includes subsidiaries in the UK (TVH UK), France (Manupièce), Sweden (Bozela), Australia (TVH Australasia) and China (TVH China). In 2003, TVH bought SMH and acquired offices in the USA, Canada and Mexico.
The IMC acquisition adds established subsidiaries in Brazil (Intrupa do Brasil Ltda) and Singapore (Intrupa Asia Pacific Pte Ltd) to TVH's global distribution network.
TVH would not comment on rumours IMC facilities in areas overlapping with SMH facilities would close. Pauwels said TVH was still in "evaluation" stage.
"A decision will be made for the best of the group, its customers and employees as quick as possible."
An LPM master distributor in the USA told
Forkliftaction.com News he was concerned about losing his "captive market".
"I am the only LPM distributor in my town but there are about 20 TVH dealers here," he said.
"Will large-volume LPM parts buyers pay the same prices as small-volume LPM parts buyers?"
Forkliftaction.com News understands Intrupa Manufacturing Co Ltd (Canada) customers Jamsons Industrial Supplies Inc, a Canadian wholesale forklift parts distributor based in Cambridge, Ontario, and R&R Forklift Inc, a forklift parts specialist in Kitchener, Ontario, are in discussions with TVH over future business relationships.
Jamsons vice president Tim Jamal said:
"We are still absorbing the acquisition. It's too early to determine the overall impact but we will have some comments in the weeks to come."
Chuck Boetsch, IMC chief operating officer, would not comment on the acquisition. He said all statements were co-ordinated by TVH to ensure a "consistent message".
IMC was founded in 1961 after CEO Hans Anger emigrated from Germany. He started the business travelling around mid-west USA in a Volkswagen van, visiting dealers and camping at state parks to save money, taking orders for a small range of parts made in the Anger family kitchen in Chicago.