Home Finance & Investments Spanset acquires stake in Lancashire’s CoreRFID

Spanset acquires stake in Lancashire’s CoreRFID

From left to right: Pete Ward (MD SpanSet), Richard Harrison (Sales Director CoreRFID), Martin Relton (Materials Handling Group Manager SpanSet) and Munzi Ali (MD CoreRFID).

SpanSet – the Swiss multinational which produces lifting and height safety products – has acquired a stake in Skelmersdale-based software firm CoreRFID. The deal will make CoreRFID the leading supplier of lifting inspection software systems worldwide.

CoreRFID’s CheckedOK solution helps companies to comply with the rules on safety and maintenance inspections. Radio frequency identification (RFID) tags are used to identify cranes, forklifts and other equipment in need of regular inspections while the software helps to ensure these are carried out and keeps track of the results. The system is a market leader in the UK and Ireland and was adopted by SpanSet several years ago and incorporated into its product range.

SpanSet provides lifting, load control and height safety products and services from its bases in 14 countries worldwide. It has invested in CoreRFID via its UK subsidiary SpanSet UK, which is based in Middlewich and which now holds a 33% stake in the firm.

SpanSet UK Managing Director Pete Ward said the company had recognised the need to incorporate an IT solution in its products. “Working with Core, an established provider of RFID and asset management software, proved to be very positive,” he said.

“As we progressed it became evident that our services committed SpanSet quite closely to CoreRFID and its technology. We also realised that our perspective from the end-users of lifting and height safety products meant that we were able to help Core develop its offer further.

“To secure such a positive partnership it seemed like an obvious step to invest in the company. The collaboration will assist Core’s international expansion through the world-wide SpanSet Group.”

Munzi Ali, Managing Director of CoreRFID, said: “SpanSet has been a customer for many years. Meanwhile CoreRFID has set its sights on international opportunities, having dominated the UK and Ireland market for years.

“With SpanSet’s global presence and CoreRFID’s market leading technical solution, this partnership makes complete sense. Both companies will now work together to make the CheckedOK system a global brand.”