Tipton firm V.N.A Trucks has completed a management buyout (MBO). The company secured £10m growth capital from Arbuthnot Bank for the move and was advised by business advisory firm Quantuma.

V.N.A Trucks group has two separate operating companies – Narrow Aisle Limited (NAL) and Flexi Forklift Rental Limited (FFRL). Narrow Aisle sells trucks, spares and maintenance services, while Flexi Forklift Rental provides short and long-term rental of Flexi trucks and masts.

Narrow Aisle designs, manufactures and markets the award-winning Flexi AC range of articulated forklift trucks at the company’s manufacturing plant in Tipton and distributes them world-wide through a fully supported distributor network.

It supplies many sectors, from food and beverage companies to the automotive industry, but all of its customers have one common aim – to maximise efficiency within their warehousing operation by increasing throughput and making the most of all the space that is available.

Flexi Forklift Rental has over 300 articulated forklift trucks in its short-term rental (STR) fleet, which can be hired for between one week and 12 months, and includes full maintenance and service support.

In the recent management buyout the previous commercial director John Maguire stepped up to become managing director and lead the transaction. Donald Houston will join the team as group finance director. The MBO has also led to the retirement of the two founder shareholders.

The growth capital that has been secured in the deal will help the company to continue with its growth strategy and further expand its international profile.

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