A Warwick-based company who specialise in the manufacture of refuse collecting vehicles has been sold for £31 million.

Dennis Eagle, situated on the Heathcote Industrial Estate, has been sold to London company NatWest Equity Partners Ltd, along with two sister companies – Douglas Equipment Ltd and Schopf GmbH.

NatWest has assured management staff at the Warwick office that they will remain in place, and Dennis Eagle’s sales director Norman Thoday believes it is an exciting development for the company.

He said:

"We are pleased that the recent period of speculation and uncertainty has come to an end.

"Now the ownership issue is settled it means we can now focus all our efforts on the challenges ahead and continuing to develop the business in the UK and mainland Europe.

"We have just launched two brand new products – one for working in confined areas and the other with class-beating capacity – and we are determined to keep our lead in this specialist market.

"We have great facilities and hold a big advantage as we are the only manufacturer in Europe to make both refuse bodies and chassis."

Dennis Eagle has invested heavily in its Warwick factory facilities over the last two years in a bid to haul its technology up to the level of the world leaders.

The facility is now one of the most modern in Europe with the latest computer aided design technology just added.

New European legislation will increase the collection of recyclable material by nearly six times the amount which should help Dennis Eagle to expand.