Construction, quarrying and roadbuilding equipment provider LiuGong has signed a share purchase agreement to acquire Portsmouth, UK-based direct sales operation Construction Plant & Machinery Sales (CPMS).
CPMS will serve as LiuGong’s exclusive dealership for England, Wales and Scotland. LiuGong says the move establishes its first international retail operation, which will be overseen from its European HQ in Warsaw, Poland.
The former shareholders of CPMS will remain as directors of the business, which LiuGong says will ensure a seamless business transition for customers.
The company adds that it plans to continue its investment to broaden national coverage and drive growth in the UK construction equipment market.
“The UK is an important market for us," said Howard Dale, chairman of LiuGong Dressta. "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 have an outstanding management team in place at CPMS who are true retail professionals and highly experienced in the UK construction equipment market.”
Brain Prescott, CPMS MD commented: “The new entity will be part of a much larger group and, for our customers, this means greater financial stability, direct support from the manufacturer, a larger range of machines to fulfill our customers’ needs, as well as greater national coverage and support resources. In addition, this move will enhance resale values as the population of LiuGong machines grow.”