Family-owned Ros Roca SA is to acquire Warwick-based Dennis Eagle from shareholders ABN Amro Capital and LDC in a move the company has called “one of the most exciting developments to impact on the global waste equipment sector”.
 Dennis Eagle has said investment in its RCV production is still “high on the agenda” |
With profits in 2006 forecast to increase ahead of budget – despite pressures from steel and energy prices – Eagle, the acquisition is expected to create a company with a 270m turnover.
The company's 600-strong work force will join a company operating across Europe with 1,100 staff.
“Benefits”
Dennis Eagle chief executive Mike Molesworth said the move would bring “substantial benefits” to customers of both companies.
He said: “The Ros Roca and Dennis Eagle businesses are complementary. Not only are both organisations domestic market leaders for RCVs in their own right, they are profitable and two of the most successful companies within the waste equipment sector in Europe. It has long been our stated intention to develop Dennis Eagle into a truly leading international concern and this latest development will help accelerate this process.”
The company said Dennis Eagle's market for RCVs has a “minimal” overlap with that of Ros Roca, which is involved with the production of waste treatment plants including MBT facilities as well as collection vehicles.
As part of the Tarrega-based Ros Roca Group, the UK-based firm will work alongside divisions including Eurovoirie in France, Schorling of Germany and Resitul in Portugal.
Mr Molesworth said: “Everyone involved at Dennis Eagle, including the management team that has now been together for six years, is looking forward to taking the business to its next level of development internationally. Becoming part of an equally successful global group leader in waste equipment for collection, transport, processing and treatment will be pivotal to this.”
Investment
Dennis Eagle said investment in the company's production development will remain “high on the agenda in the future” after the acquisition.
Mr Molesworth explained: “The investment that we have made in terms of new product development, parts and service is there for all to see and has proved instrumental in ensuring that we not only continue to occupy the position of market leader for RCVs here in the UK, it has greatly assisted us in penetrating new and existing export markets.”
| Related links: |
Recent additions to the Dennis Eagle product range include the Volvo Euro 4 engine technology and the enhanced Elite 2 chassis cab. The company has also boosted its service centre network with investments.
“Internationally, we have seen our position strengthen in a number of European markets, and have signed licensing agreements that have introduced our product to China and India. It is our intention, therefore, to continue to invest across all levels of the business,” Mr Molesworth said.
Subscribe for free