Craven Tasker up for grabs
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• Semi-trailer manufacturer Craven Tasker and PSV body specialist East Lancashire Coach Builders are being sold by Trafalgar House Group member John Brown.
Trafalgar House, which acquired John Brown only last year, says that within its group activities road transport "is not a major business area, and it has been decided that it would be in the best interests of both Craven Tasker and East Lancashire Coach Builders to seek purchasers who are committed to the road transport industry, where they will be able to develop their full potential".
Craven Tasker managing director Norman MeHors says the decision by John Brown to sell Craven Tasker was "inevitable — it has been recognised for a long time that we are a non-core industry within the group." According to MeHors the sale is "an opportunity: the timing is right, we have just completed five years of reorganisation and investment. We are now very nicely structured."
Craven Tasker has been profitable since 1983 and is "improving profitability compared to a year ago". Mellors reports that CT has a forward order book of "27.5 million, and rising."
Sheffield-based Craven Tasker is currently the third largest trailer builder in the UK, with plants at Sheffield, Garstang, Woodville and Cumbemauld.
Kleinwort Benson, which is advising John Brown on the sale, will not divulge details of either company's profits, but Trafalgar House says that their combined turnover is about 225 million. It is believed that CT's turnover represents some 222 million of that figure.
In addition to its trailer building, CT will be increasing its investment in its rental and leasing activities.
Kleinwort Benson is preparing a prospectus on both companies, but KB's Peter Martin says that no firm offers have yet been received.
East Lancs, based at Blackburn, designs and builds a wide range of PSV bodywork from double-deckers to mini-buses. Like Craven Tasker, it is currently operating at a profit.