Forklift truck supplier Doosan has acquired a majority stake in Genesis Forklift Trucks, one of its leading dealers.

The founding directors of Genesis, based in Huntingdon, Cambridgeshire, will stay on and will be joined by Doosan’s general manager Tim Waples who will become chairman.

Waples said the company has been looking to strengthen its position in the UK for some time.

“This is the most significant investment in the UK since the business was established. We are continuing to grow Doosan’s presence and see this as the perfect platform to bring us closer to our customers and make us even more competitive in the UK market.”

“We have been particularly impressed with what Genesis has done for us over the years as a Doosan dealer and believe this investment will be beneficial for all parties. As well as help improving IT systems and buying power, we believe both companies will benefit from Doosan’s influence and management skills.”

Genesis sales director Paul Brierley said financial security and belonging to a large organisation were key incentives, as was the ability to offer Doosan’s hire fleet.

“We’re delighted with the move. It not only secures our company’s future with stability and financial backing, but we are now able to add the latest Doosan equipment to our hire fleet to help satisfy our customers’ ever-increasing demand for short-term hire.”

Genesis is planning to use the injection of funds to expand into Norfolk and other local areas.

Pictured (L-R) are Tim Waples with Genesis sales director Paul Brierley and service director Graham Faulkner.