Amplex acquires Lift Rite – a leading lifting and material handling provider in Ireland

Amplex acquires Lift Rite – a leading lifting and material handling provider in Ireland

Amplex AB has acquired 95 per cent of the share capital of the Irish company Lift Rite Ltd. The sellersare the founding shareholders of the company, Mark and Mary Dardis.

Lift Rite is based in Maynooth, just west of Dublin, Ireland. The company was founded in 1995 and is today a leading supplier of lifting equipment and material handling solutions. Lift Rite's customers are found in a wide range of industry segments, including engineering, data centres, pharmaceuticals, food & beverage, logistics and distribution. The company has 10 employees and annual sales of approximately EUR 7 million.

Amplex AB today announced it has completed the acquisition of the Irish lifting and material handling provider Lift Rite (liftrite.ie). Lift Rite will be a part of the Pronomic Group (www.pronomic.com), the leading provider of safe and sustainable industrial lifting solutions.

“This is an exciting day for us. Lift Rite has been an important partner and one that has strongly contributed to our growth over the past few years. They are an important success factor for us when we focus on developing our business within some of our most important market segments. We are thrilled to welcome them into our growing Pronomic family.” says Joakim Stannow, Managing Director of Pronomic AB.

"Pronomic manufactures high-quality material handling equipment and has long been a valued partner of Lift Rite. Together we will strengthen our offerings and become even more attractive as suppliers in our respective main markets." says Mark Dardis Managing Director and minority shareholder, Lift Rite Ltd.

Pronomic’s growth strategy involves clearly positioning the company as one of the leading global suppliers of material handling and lifting solutions, extending its reach from its Headquarters in Sweden to provide local expertise, maintenance, and support for its customers wherever they are based. Pronomic is a subsidiary of Amplex AB (www.amplexab.se), a privately-owned Swedish corporate group that acquires, owns and develops technology companies in selected niches.

"We know Lift Rite well as the company has long been a successful distributor of products from our company Pronomic. Lift Rite has a strong position in the Irish market and its employees have high technical and business expertise. The acquisition makes us bigger, gives us a broader offering and greater capacity to offer our customers customised and value-creating solutions," says Henrik Johansson, Head of Business Area Industrial within the Amplex Group.

For further information, please contact:

Henrik Johansson, Head of the Industrial business area, Amplex
+46 (0)733 67 32 99, henrik.johansson@amplexab.se

Mark Dardis, founder, Managing Director and minority shareholder, Lift Rite Ltd
+353 (0)86 816 1088, mark@liftrite.ie

Håkan Lundgren, Head of Corporate Development & Communications, Amplex
+46 (0)8 759 35 79, hakan.lundgren@amplexab.se

Joakim Stannow, Managing Director, Pronomic Group
+46 (0)702 07 60 06, joakim.stannow@pronomic.com