Press Release
Grant Thornton congratulates East West Engineering on its sale to Arbor Permanent Owners
04 Dec 2024
Grant Thornton is delighted to have acted for the shareholder of East West Engineering, Australia’s leading supplier of forklift attachments and material handling equipment, on its sale to Arbor Permanent Owners.
Ron King established East West Engineering in 1981, growing it into Australia’s leading provider in forklift attachments and materials handling equipment, operating out of Brookvale on Sydney’s Northern Beaches. EWE is renowned for its vast product range and is recognised for its quality and reliability and its continuous innovation to solve customers’ problems. EWE’s products serve a variety of industries, including construction, infrastructure, warehousing, manufacturing, farming, and mining.
After building the business over four decades, Ron sought a new owner to continue his legacy and to ensure a smooth transition of ownership for the business, its customers, and employees. Arbor’s permanent holding outlook was attractive in providing stability of ownership. The acquisition of EWE is Arbor Permanent Owner’s cornerstone initial investment, with plans to build a portfolio of strong Australian businesses as other business owners seek succession options.
Ron King, Shareholder and Founder of East West Engineering, stated, “Grant Thornton provided exceptional support throughout this journey, ensuring the process was smooth and aligned with my goals for East West Engineering. They took the time to understand our business, values, and what mattered to me in transitioning ownership. Their guidance helped us find the ideal partner in Arbor Permanent Owners, whose shared vision and commitment to quality, innovation and customer support will ensure the legacy continues to thrive and grow.”
Holly Stiles, Partner and National Head of Corporate Finance at Grant Thornton Australia, commented, “It was a pleasure to advise on the sale of East West Engineering and we are delighted to have achieved a successful outcome for Ron and the business. We are seeing many business owners nearing retirement age, who are interested to explore options to realise value from their business. There is broad spectrum of potential acquirers and investors, and it is very rewarding to find the right fit for the business and the shareholder.”
East West Engineering offers an extensive range of materials handling products that increase the flexibility and use of customers’ handling equipment and machinery. EWE is experienced in manufacturing customised products for customers create solutions to meet an individual customer’s requirements, resulting in an extensive catalogue of products covering over 3,000 SKUs and 8,000 developed products.
Experts / Authors
Mikala Spark
Senior Communications Manager at Grant Thornton Australia
