Miniveyor Products Ltd has now become the new home of Miniveyor™, the world’s favourite portable conveyor system, following the acquisition of Rako Products Ltd.

 

Rako Products, who introduced the innovative Miniveyor™ to a worldwide customer base in the early 90’s, went into administration in December 2008 following a difficult trading period due, in part, to substantial debts owed to Rako by their North American distributor of confined access construction equipment Miniveyor Systems Inc.

 

Miniveyor Systems Inc, who operate out of Stone Mountain GA and Burlington, Ontario, is owned by Canadian resident Larry Leach. Leach was also a shareholder and director of Rako Products Ltd

 

The deal struck with Administrators, Deloitte LLP, by Darracq Shawe, a former director of Rako, to purchase the IPR, assets and goodwill of Rako Products Ltd, safeguards the continuation of manufacturing at the Stonehouse facility as well as the supply of their world famous product to a global marketplace.

 

In a recent interview Shawe said ‘…of course Rako had been affected by the downturn in the global credit market but our innovative products are still in demand in a market in which our construction and mining customers are coming under increasing pressure to increase productivity while at the same time reduce manpower and overheads. The introduction of Miniveyor into these organisations almost always reduces their reliance on manual labour, increases productivity and reduces manual handling health and safety incidents’

 

He went on to say ‘I apologise for the disruption in supply to customers and in particular to our customers in North America following Rako’s decision to suspend deliveries to US distribution partner Miniveyor Systems Incorporated in April 2008 because of payment issues with them. I am aware that some of our North American customers may have paid deposits to our former distributor and not received goods and I would like them to contact me if they have been affected by this in any way.’

 

Shawe was advised by the acquisition team at Harrison Clark LLP and Lloyds Banking Group, who provided funding through the Enterprise Finance Guarantee scheme. This funding scheme has been launched by the UK Governments Department for Business Enterprise and Regulatory Reform (BERR) to help SME’s with viable business plans raise the necessary investment during the economic downturn.

19^th March 2009

Stonehouse, UK

 

Miniveyor Products Ltd

Stonedale Road

Oldends Industrial Estate

Stonehouse

Gloucestershire

GL10 3RQ

United Kingdom

T: +44(0)845 0942140
F: +44 871 575 0581
sales@miniveyor.com

www.miniveyor.com