NACCO to Acquire Barloworld’s U.S. Materials Handling Business
NACCO Materials Handling Group, Inc. (NMHG), Cleveland, Ohio, has executed a letter of interest to acquire Barloworld's United States operations, as part of Barloworld’s strategic intent to exit the materials handling business in the U.S.
Briggs and LiftOne will join the Hyster network in the U.S. upon completion of the proposed transactions and execution of dealer agreements for the assigned territories. The transactions remain subject to due diligence, and are expected to close by March 31.
In other company news, Hyster Co., an operating division of NMHG, announced that LiftOne, Charlotte, N.C., has executed a letter of interest to acquire a portion of Barloworld Handling’s assets relating to Hyster lift trucks.
LiftOne and Barloworld are currently performing due diligence to finalize the transaction with a target closing date at the end of the first quarter. The acquisition will enable LiftOne to sell and service Hyster lift trucks in portions of Alabama, Georgia, Tennessee, Virginia, North Carolina, and South Carolina. LiftOne will operate Barloworld branch locations in these states, including the Barloworld headquarters in Charlotte.
Additionally, Briggs Equipment, a subsidiary of Briggs International, Inc., has executed a letter of interest to acquire a portion of Barloworld Handling’s assets, pending due diligence. Once complete, Briggs will sell and service Hyster brand lift trucks in Florida, Arkansas and Atlanta, and portions of North Carolina, South Carolina, Georgia, Alabama, Mississippi, and Tennessee. Briggs will also assume dealer responsibilities in these territories.