Iles retires and Merlo acquires UK business

Following the retirement of managing director John Iles, Merlo UK Ltd has become a full subsidiary of the Italian telehandler manufacturer Merlo Group.

Mr Iles was the joint founder of Merlo UK and his shares have been amicably acquired by the Merlo Group. To make the transition as seamless and easy as possible, Mr Iles will now act as deputy chairman of the board and non-executive director.

Merlo UK's new general manager, Maurizio Ganio-Mego, said, "John and his team have set a tremendous foundation for the Merlo product in the UK. Without their experience and local knowledge, it would have been much more difficult to successfully penetrate the market here. John is, quite literally an icon of the rough terrain truck market in the UK and we are delighted to retain his experience

"The Merlo Group plans considerable expansion of its UK business and this move opens the possibility for more investment in order to achieve the longer-term aim of the Group."