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Prova Acquires New Plant Machinery

Prova Acquires New Plant Machinery

Prova has strengthened its investment portfolio with another major acquisition. The global leader in automotive, cleantech and environmental communications has acquired a stake in X Machines.

X Machines aims to provide a community for machinery sales across the mining, oil & gas, forestry, marine, construction and renewables markets, among others. Via a unique platform, buyers and sellers can access an international marketplace, rather than being limited by more traditional channels. 

Welcoming the new partnership, X Machine founder Alex Slowen said: “Over the past few months, we’ve seen a significant amount of money committed to the business, allowing us to take the X Machines platform to market next month. We want to enable a global reach via innovative IT and digital engagement. By listing equipment and services via X Machines, organisations can interact with suppliers around the world. No other platform is trying to connect people and equipment, while bringing added value services to market.”

He added: “Five years from now, we want to be the dominant marketplace for heavy equipment, with a balanced buyer and seller network, offering outstanding customer service. Coming from a 50 year old family business dedicated to buying and selling machinery, we know the challenges and how to maximise the opportunities. We want to bring people and machinery together and create a global network with unlimited capacity.”

Shedding more light on Prova’s recent investments, Richard Postins explained: “These are uncertain times for the UK economy but across the critical sectors of cleantech and transport, there is real drive, determination and innovation. As a society, we need to be looking for the right solutions and, at Prova, we’re committed to delivering success for the next generation. X Machines is an excellent example of disruptive capability and we look forward to working alongside the business as it goes from strength to strength.”

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BDC 317 : Jun 2024