Chinese construction machinery manufacturer, LiuGong Machinery, has wrapped up a deal for a Portsmouth-based machinery dealership, establishing its first international retail operation in the process.
Construction Plant & Machinery Sales (South East) Limited (CPMS) previously served as the Chinese firm’s exclusive dealership for England, Wales and Scotland, but the acquisition is part of a strategic move designed to strengthen the company’s distribution channel in the UK & Europe.
LiuGong is the 21st largest construction equipment manufacturer and has a full range of products such as wheel loaders, bulldozers, forklifts and rollers.
LiuGong received legal advice on the transaction from Aaron & Partners, whilst Bennett Brooks provided Corporate Finance support.
Jamie Hawley, Corporate & Commercial Partner at Aaron & Partners, said, “We are delighted to have been able to provide legal support to LiuGong on its first investment in the UK and one which will help launch the company’s expansion into the UK and European markets. We look forward to supporting their continued growth.”
Rick Payne, Corporate Finance Director at Bennett Brooks, added: “We are so pleased to see this deal agreed successfully and to have played our part in the acquisition on behalf of LiuGong.”
Howard Dale, Chairman of the LiuGong Dressta said: “We are excited to be expanding our retail operations into international markets and hope to strengthen our distribution channels in the UK and Europe in the future.
CPMS has laid a strong foundation for LiuGong to make an impact not only in the traditional earthmoving market but also in demolition, recycling and plant rental sectors.
“We are incredibly grateful for the fantastic support we received from both Aaron & Partners and Bennett Brooks during this transaction. The advice, guidance and support from the highly knowledgeable teams was well communicated and expertly executed.”
