Tanfield Group

Tanfield Group was a British engineering and industrial group that developed a broad portfolio spanning electric commercial vehicles, powered-access equipment, specialist engineering, and imaging technology. The company was formerly known as Comeleon, a business associated with producing three-dimensional images for mobile phones and other electronic devices. After Comeleon was absorbed into the Tanfield Group in 2004, the group expanded substantially beyond imaging and pursued businesses connected with industrial mobility and electrification. A central part of Tanfield's strategy was its acquisition of Smith Electric Vehicles in October 2004. Tanfield restarted research and development at Smith and sought to create practical electric delivery vehicles for commercial operators. This program produced vehicles including the Newton and Edison, with the group targeting broader European production and deployment. Tanfield also entered adjacent commercial-vehicle and specialist-equipment markets through Aerial Access, acquired in 2004, and through businesses such as Jumbotugs, Norquip, SEV Materials Handling, and Tanfield Engineering Systems. The group became particularly active in the aerial work platform sector. In 2006 it acquired the powered-access division of UpRight International, together with related distribution and sales operations in Japan and the United States. In June 2007 it acquired Snorkel International, adding another established name in scissor lifts, boom lifts, and related access equipment. These transactions made powered access an important part of Tanfield's industrial portfolio alongside electric vehicles. Tanfield also pursued international commercialization of Smith's electric-vehicle technology. Smith Electric Vehicles US Corp was formed in 2009 and began operating later that year. In 2010 Smith US made a conditional proposal for Tanfield that was described as combining cash consideration with the possibility of a future Smith US share entitlement if the American business subsequently completed an initial public offering. The proposal reflected the strategic importance of separating or financing the electric-vehicle operation while retaining potential exposure to its growth. One proposed product was the TX4E, an all-electric version of the London TX4 taxi developed under an agreement between London Taxis International and Tanfield. The concept was intended for urban taxi use and was described as having a projected maximum speed of 50 miles per hour and a range of more than 100 miles on a battery charge. The project illustrated Tanfield's attempt to apply electric drivetrains to established commercial vehicle platforms rather than limiting its work to delivery vans. Tanfield's expansion was accompanied by financial and governance criticism. In 2008, press reports said that the London Stock Exchange was examining the company after a severe decline in its share price. Analysts questioned the quality of the group's disclosure and the strength of its financial controls, while disappointing annual results and substantial cash consumption intensified scrutiny. The company later became involved in a legal dispute in the United States with Xtreme Manufacturing concerning ownership of Snorkel. Available reference material does not establish the final corporate status of Tanfield Group, its current ownership, or a current operating website, so those fields remain unresolved.

Tanfield Group developed from Comeleon, a company associated with three-dimensional imaging for mobile phones and other devices. The Comeleon business was absorbed by Tanfield in 2004, after which the group broadened its activities into industrial engineering and commercial electrification. This transition transformed the company from a specialist imaging operation into a diversified industrial group. The most significant early expansion was Tanfield's acquisition of Smith Electric Vehicles in October 2004. The group restarted research and development at Smith with the objective of producing electric delivery vehicles suitable for commercial use. The Newton and Edison became representative products of this effort, and Tanfield expressed ambitions for production and distribution across Europe. In the same year, it acquired Aerial Access, described as a cellular manufacturing solutions business, adding another engineering-related activity to the group. Tanfield subsequently built a substantial presence in powered access. In 2006 it purchased the powered-access division of UpRight International, including related distribution and sales companies in Japan and the United States. The transaction brought scissor lifts, boom equipment, and associated access products into the group. On 28 June 2007, Tanfield acquired Snorkel International, further increasing its participation in the aerial work platform market. Other businesses associated with the group included Jumbotugs, Norquip, SEV Materials Handling, and Tanfield Engineering Systems. Electric vehicles remained a major strategic theme. Tanfield formed Smith Electric Vehicles US Corp in February 2009, and the American operation began trading later that year. A proposed commercial vehicle project was the TX4E, an all-electric urban taxi based on the London TX4 platform. The vehicle was developed under an agreement involving London Taxis International and Tanfield and was described as having a projected 50-mile-per-hour top speed and more than 100 miles of range on one charge. The group faced increasing financial and governance pressure as it expanded. In 2008, reports stated that the London Stock Exchange was investigating circumstances surrounding a sharp fall in Tanfield's share price. Analysts criticized the company's disclosure standards and financial controls, and disappointing annual results raised questions about cash consumption. The reference material reports a fall from a 2007 high of 203.5 pence to 5.53 pence in 2008, but does not provide a separate primary-market source for those figures. In March 2010, Smith Electric Vehicles US made a conditional proposal for Tanfield involving cash consideration and a possible future Smith US share entitlement if the American business later completed an initial public offering. The proposal illustrated the tension between Tanfield's parent-company structure and the financing needs of its electric-vehicle subsidiary. Later, in 2019, Tanfield became involved in a US legal dispute with Xtreme Manufacturing over ownership of Snorkel. The available material does not establish the final outcome of that dispute or provide enough current information to determine Tanfield Group's present operating status.

• 2019

  US dispute concerning Snorkel ownership

  [1]Tanfield Groupen.wikipedia.org

  Tanfield initiated a legal battle with Xtreme Manufacturing concerning ownership of Snorkel.

• 2010

  Smith US makes conditional proposal

  [1]Tanfield Groupen.wikipedia.org

  Smith Electric Vehicles US proposed a conditional transaction involving Tanfield shares and a possible future Smith US share entitlement.

• 2009

  Smith Electric Vehicles US Corp formed

  [1]Tanfield Groupen.wikipedia.org

  Tanfield established its US electric-vehicle subsidiary, which began operating later in the year.

• 2007

  Snorkel International acquired

  [1]Tanfield Groupen.wikipedia.org

  Tanfield acquired Snorkel International on 28 June, expanding its aerial work platform business.

• 2006

  UpRight powered-access division acquired

  [1]Tanfield Groupen.wikipedia.org

  Tanfield purchased UpRight International's powered-access division and related sales and distribution operations in Japan and the United States.

• 2004

  Comeleon is absorbed into Tanfield Group

  [1]Tanfield Groupen.wikipedia.org

  Tanfield incorporated the former Comeleon imaging business and began expanding beyond three-dimensional mobile-device imaging into industrial engineering and electrification.

• 2004

  Smith Electric Vehicles acquired

  [1]Tanfield Groupen.wikipedia.org

  Tanfield acquired Smith Electric Vehicles and restarted development of electric delivery vehicles such as the Newton and Edison.

• 2004

  Aerial Access acquired

  [1]Tanfield Groupen.wikipedia.org

  The group acquired Aerial Access, adding cellular manufacturing solutions to its engineering portfolio.

A diversified industrial engineering group combining commercial-vehicle electrification with powered access and specialist engineering capabilities.

• Electric delivery vehicle

  Smith Newton

  The Newton was one of the electric delivery vehicles developed through Tanfield's Smith Electric Vehicles business after the 2004 acquisition. It represented the group's effort to commercialize battery-powered vehicles for fleet and urban delivery applications and to restart Smith's research and development program.

• Electric commercial vehicle

  Smith Edison

  The Edison was another electric vehicle associated with Tanfield's post-acquisition Smith development program. It formed part of the group's proposed range of commercially oriented electric vehicles intended for wider European production and use.

• Electric urban taxi

  TX4E

  The TX4E was a proposed all-electric version of the London TX4 black taxi. Developed under an agreement between London Taxis International and Tanfield, the concept was aimed at urban taxi operation and was described as having a projected 50-mile-per-hour top speed and more than 100 miles of range per charge.

• Powered-access equipment

  Snorkel aerial work platforms

  Snorkel was an aerial work platform business acquired by Tanfield in 2007. Its product area included equipment such as scissor lifts and boom lifts used to provide elevated access in construction, maintenance, and industrial settings.

• Powered-access equipment · 2006

  UpRight powered-access equipment

  Tanfield acquired UpRight International's powered-access division in 2006, together with distribution and sales companies in Japan and the United States. The business added scissor lifts, booms, and related access machinery to Tanfield's portfolio.

• 2019

  Legal dispute over Snorkel ownership

  Tanfield became involved in a legal battle in the United States with Xtreme Manufacturing concerning ownership of Snorkel. The available reference does not establish the final resolution.

  Source

• 2008

  London Stock Exchange inquiry and disclosure criticism

  Press reports said the London Stock Exchange was examining Tanfield following a sharp share-price decline. Analysts criticized the company's disclosure standards and financial controls, while disappointing annual results and high cash consumption increased concern.

  Source

Read more

• 2010

  Conditional Smith US proposal for TanfieldM&A

  Background

  Smith Electric Vehicles US sought a structure that could provide value to Tanfield shareholders while supporting the US electric-vehicle business.

  Action taken

  Smith US made a conditional offer described as 50 pence per Tanfield share, together with a potential free Smith US share if the subsidiary later completed an initial public offering.

  Aftermath

  The available material does not establish whether the proposal was completed or accepted.

  Conditional offer per Tanfield share. 50 pence (March 2010)

  Source

• 2009

  Establish Smith Electric Vehicles USStrategy

  Background

  Tanfield pursued international growth for Smith's electric commercial vehicles.

  Action taken

  The group formed Smith Electric Vehicles US Corp, which began operations later in 2009.

  Aftermath

  The US subsidiary provided a dedicated platform for commercializing Smith electric vehicles in the American market.

  Source

• 2007

  Acquire Snorkel InternationalM&A

  Background

  Tanfield continued consolidating its aerial work platform activities.

  Action taken

  The group acquired Snorkel International on 28 June 2007.

  Aftermath

  Snorkel became another significant name within Tanfield's powered-access portfolio.

  Source

• 2006

  Acquire UpRight powered access divisionM&A

  Background

  Tanfield wanted to increase its presence in aerial work platforms and powered access.

  Action taken

  The company acquired UpRight International's powered-access division and associated distribution and sales businesses.

  Aftermath

  The transaction expanded the group into scissor lifts, boom equipment, and international powered-access distribution.

  Source

• 2004

  Acquire Smith Electric VehiclesM&A

  Background

  Tanfield sought to expand from imaging and specialist engineering into electric commercial vehicles.

  Action taken

  The group acquired Smith Electric Vehicles and restarted its research and development program.

  Aftermath

  The acquisition led to development work on the Newton and Edison and became a foundation of Tanfield's electrification strategy.

  Acquisition consideration. £2.2 million plus 1 million new ordinary shares (October 2004)

  Source

1. 1Tanfield Groupen.wikipedia.org