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Executive hire show www.executivehireshow.co.uk
Belle rings the changes
Robert Aplin talks with Dr Mohed Altrad, CEO of Altrad, and Ray Neilson,
MD of Belle, about the restructuring of Belle following its acquisition and the phased introduction of Altrad products to the UK.
S
ince making his first acquisition in 1984, Dr Mohed Altrad, the Syrian born, French educated founder and CEO of French-based Altrad,
has taken over more than 60 companies or brands around the world.
Specialising in the manufacture and sales of scaffolding, mixers and wheelbarrows
describing its scaffolding and mixer market share as world class Altrad s annual turnover reached ¬445m in its financial year to August 2008.
The Altrad name was largely unknown in the UK until January this year, even though it had acquired mixer manufacturer, Baromix, in 2002. At the start of 2009, Altrad put itself on the UK hire map with the £10m purchase of Belle, one of the key brands serving our industry, thus ending over 50 years of independent ownership by the Blackhurst family. In addition to the purchase price, Altrad is providing a permanent loan facility of £1 Om. lt does seem that Mohed Altrad has had to be very patient in his pursuit of one of our industry s longest-established manufacturers, admitting that he had kept an eye on Belle for 15 years and there has been continuous dialogue since 2005.
The reason that we have heard so little since January is that Altrad has spent the last six months restructuring the Belle business to match its activity levels. According to Mohed
Altrad, at the time of the preliminary agreement signed in August 08, Belle was a growing business, especially its export operation. By the time the deal was concluded in January,
Belle was in a different situation. Without our support, it would have suffered badly.
With Belle s turnover down by 50% over last year, the restructuring has resulted in a cut in its UK workforce of 100 staff, including some high profile directors. These reductions have been achieved through a combination of natural leavers, as well as voluntary and compulsory redundancies. Belle s spare parts, warranty and diamond blade sales operation, based in Leek, has been closed and integrated into its
Sheen head office, as has Avon Equipment Ltd, its sales company supplying
DIY mixers to the retail market under the Mastermix brand.
As we published in our August issue, Altrad has also transferred production of the
Baromix range from its small Alcester facility to Sheen, thus retaining both mixer ranges in its product portfolio. Belle s manufacturing plant in Poland, opened in
April 2004, also remains, although it is now, obviously, under Altrad control.
Continuing to build each product group
Flay Neilson is also still at the helm of Belle as MD, having joined the company in
2001. Hitting back at competitors that have said otherwise, Ray is adamant that we continue to build each of Belle s product groups mixers, compaction, sawing, diamond blades, hydraulic breakers, wet concreting and the mini dumper. We will continue to fight for increased market share in each of these ranges. There is evidence that hirers
utilisation is increasing and our sales in September this year were higher than 2008.
