MV Commercial has completed the purchase of tipping trailer and rigid body manufacturer Fruehauf, taking the company out of administration.
The multi-million-pound deal protects 120 jobs and secures a future for Grantham-based Fruehauf which was placed into administration last month.
The deal includes a commitment to invest £30m over the next three years, with plans to modernise the manufacturing facility and provide an immediate injection of cash into the business.
MV Commercial will also revive the ‘Crane Fruehauf’ name which the business was known by until around 1998 with an immediate rebranding of the company.
The company will retain 100% of the current workforce who will TUPE into the new business and will continue to produce the current Fruehauf range.
Tom O’Rourke, CEO of MV Commercial, says: “This is a hugely significant day for both businesses; and an opportunity we couldn’t turn down. Fruehauf has a fantastic product range, a rich heritage, and a wealth of talent within its team which will be complemented by MV Commercial’s strength and experience in the marketplace.
“With immediate effect we are starting work to scale production back up, enabling us to commit to a delivery schedule for outstanding customer orders and begin building new stock trailers for MV’s own contract hire and ready-to-go fleets.”
“MV Commercial is best known for building the biggest and most capable crane trucks in the market. Cranes are a huge part of what we do, so we certainly weren’t going to turn down the opportunity to put the ‘Crane’ back into ‘Crane Fruehauf’!"
MV Commercial expects to have 80-90 trucks and trailers available for sale on site within a month, and say they will quickly bring production up to 15-20 trailers per week.