End October 2014 the TVH Parts Holding NV (TVH) successfully completed the acquisitions of Latec Ersatzteil-Vertriebs GmbH (“Latec”), Tail Lift Parts Europe GmbH (“TLPE”), L3 Service Pro SASU (“L3”) and the acquisition of certain activities of IPS France SARL (“IPS”).
With the acquisitions of Latec, IPS and L3, TVH further strengthens its current activities in spare parts for respectively the material handling equipment, the aerial lift equipment and the agricultural tractors. With the acquisition of TLPE, TVH will now also expand its offering and venture in the aftermarket of spare parts for tail lifts.
Latec
Latec, founded in 1972 and acquired by the Schuch family in 1996, is based in Greven (Germany) and has since been a valuable player in Europe. Latec has developed a product range for IC and electrical forklifts and has expanded its customer base internationally to customers in countries like Poland, Russia etc. The activities of Latec will be integrated immediately within the operations of TVH starting effectively November 3rd, 2014.
IPS France
IPS was founded early 2006, is based in Abzac (Bordeaux, France) and is a subsidiary of IAPS Group Ltd, a UK based group active in the distribution of spare parts for and maintenance of aerial lift equipment. TVH acquired IPS’ main activity: the distribution in France of replacement parts and batteries for aerial lift equipment. IPS will continue under a new name its other activity which is the distribution of aerial lift equipment. The spare parts activities will be integrated immediately within the operations of TVH France starting effectively November 3rd, 2014. IAPS Group will continue their activities outside France independently from TVH.
L3
L3, although its origins go back to 1969, is officially established in 2007 by the family Lecomte. The company is based in Janzé (Rennes, France), employs a team of 40 people and has become a well-respected supplier of replacement parts for agricultural tractors. For the time being, L3 will continue its activities independently from Bepco France and Pividori, which are both also TVH-owned companies. The plan is to merge L3 with Bepco France and Pividori.
TLPE
TLPE was only founded in 2013 with the ambition to become an established player in the replacement parts for tail lifts in Europe and some other markets. In its short history, TLPE has focused mainly on building its products range (more than 3000 SKU’s), product know-how and building sales in Western Europe and Russia and relationships with some partners internationally. Although a new venture, the activities of TLPE will be integrated immediately within the operations of TVH starting effectively November 3rd, 2014 with the intention to grow these activities using TVH’s existing infrastructure.
With the acquisitions of IPS France, TLPE and L3, TVH continues to roll-out its strategy to grow and expand its Industrial Equipment Parts & Accessories (IPA) and Agricultural Parts & Accessories (APA) side of the business.