SpanSet buys stake in CoreRFID

A Swiss firm which specialises in lifting and height safety products has bought a 33 per cent stake in CoreRFID.

SpanSet UK, which is based in Middlewich, completed the purchase. It's the UK subsidiary of the multinational SpanSet group which is based in  Wollerau in Switzerland.

Skelmersdale-based software firm CoreRFID created CheckedOK, which 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.

Pete Ward SpanSet UK managing director, said: “Working with Core, an established provider of RFID and asset management software, proved to be very positive.

“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.”

CoreRFID recently completed a management buyout from Mercia Fund Managers.

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.”