Specialist highways vehicle manufacturer Econ Engineering has been sold to American firm Alamo Group.
Headquartered in Ripon, North Yorkshire, Econ is the UK’s leading manufacturer of winter maintenance vehicles, supplying 85% of the nation’s gritters and snow ploughs to local councils and private contractors.
Following the transaction with the New York Stock Exchange listed company, MD Jonathan Lupton will remain with the business for an agreed period to ensure a smooth transition. The current board of directors, which includes Andrew Lupton’s son Thomas, also remains in place.
The company added that all employees and services for customers and suppliers were unaffected by the acquisition.
A second generation family business founded by Bill Lupton in 1969, brothers Andrew and Jonathan took on the reins from their father and built on the foundations he created.
Today Econ employs around 250 staff, operates a rental fleet of approximately 1,300 vehicles and provides parts and service support to customers throughout the country.
Jonathan, who joined Econ in 1985, said that his mission since the unexpected passing of co-director Andrew in 2022 had been to secure the company’s future.
He said: “Econ Engineering was established almost 60 years ago by my father Bill, alongside a visionary group, becoming a much celebrated Yorkshire manufacturer and technological innovator.
“We are incredibly proud of the successful journey the business has been on since those early days, providing meaningful employment for so many people both directly and through our supply chain, all while remaining deeply rooted in the local communities we operate in.
“Every incredible milestone we have reached, every state-of-the-art machine we have manufactured and every challenge we have overcome has been down to the grit, talent and loyalty of the people that are part of the Econ team.
“I truly mean it when I say they are the very best in the business and extend our family’s deepest gratitude to the generations of dedicated employees, trusted suppliers, and loyal partners who have helped build the business that Econ is today.”
Lupton added: “Selling a business that has been at the heart of our family’s life for more than half a century has been an incredibly difficult and emotional decision which has not been made lightly.
“Our absolute priority has been to find a new partner who not only respects our manufacturing heritage but is committed to investing in the future of our business, facilities and workforce to ensure we continue to lead the market.
“From our first meeting with Alamo Group, we were confident they shared our core values and with a strategy of long-term ownership are uniquely positioned to guide Econ into its next chapter of technological innovation and continued growth.”
Robert Hureau, CEO of Alamo Group, said: “Econ is a strong addition to Alamo Group and supports our strategy to expand our industrial equipment portfolio.
“Its leading market position, differentiated products and strong service capabilities complement our existing businesses and broaden our presence in infrastructure maintenance.
“Econ also gives us a stronger platform in the UK and creates opportunities for disciplined growth over time, supported by Alamo Group’s operating experience and long-term ownership approach.”
Econ also has engineering hubs in Alloa, Scotland; Sowerby, Thirsk; Halesworth, Suffolk; and Cardiff, Wales.
