Isuzu Truck (UK) was formed in 1996, with CEO Nikki King explaining: ‘We established the Isuzu Truck commercial vehicle brand in a crowded marketplace. We concentrated on offering award-winning customer service with highly-specified technical training for our dealers and some of the best trucks available within the Isuzu product range. We’ve grown from strength-to- strength and established a nationwide group of 60 dealers strategically located throughout England, Scotland and Wales.’
The company managed to successfully negotiate a management buy-out from RAC PLC in 2004, with Isuzu Motors Limited Japan retaining a 15% share in the company.
Last year the company saw sales increase by 13% with a turnover of just over £24m.
King added: ‘This is the ideal time for us to sell the company shareholding to Isuzu. I wanted to secure the future of the company and the business is in great shape, we’ve just celebrated a stunning year’s performance. However, it seems logical that ITUK should join its natural family and be given the tools to grow even more.’
King will be staying on as managing director until August this year to ensure the handover is effected smoothly and it is planned she will have some involvement in a non-executive capacity post retirement. Isuzu’s Masayuki Murata will become chairman of the company and will divide his time between the UK and Belgium where he retains his role as chairman of Isuzu Europe.
Murata commented: ‘This has been a very exciting acquisition for Isuzu. This is only the second wholly-owned distributor that Isuzu has acquired.
‘Now to have a wholly-owned distributor in Europe gives Isuzu a fantastic opportunity to gain an even greater understanding of the UK and European markets. ITUK’s passion for excellent customer service and CARE is truly admired by the senior management within Isuzu and I am personally looking forward to witnessing this first-hand and working with the highly professional people within the ITUK team.’
ITUK currently employs 53 people and its headquarters is based at Isuzu House in Hatfield.For more of the latest industry news, click here.