Tue, 05/08/2014 - 10:06
Elysian Capital I has acquired, in conjunction with the company’s management, Access Hire Nationwide (AHN) and Welfare Hire Nationwide (WHN).
This is the eighth platform deal in the Elysian Capital I LP Fund and the fourth acquisition made by Elysian in the last 18 months.
AHN specialises in the hire of high quality, specialist powered access and welfare vehicles in the UK. It provides Vehicle Mounted Access Platforms (VMAPs) to end use markets in infrastructure maintenance such as power, street lighting and telecoms. Only a third of the market is currently serviced through outsourced rental fleets with the remainder being serviced by in-house fleets.
WHN provides mobile and static welfare pods (temporary eating and washroom facilities for workers) on short to medium-term hire contracts.
All the AHN vehicles are managed from a single site in Normanton, near Wakefield while mobile and static welfare units, under WHN, are located at a single site in Monmouth, South Wales. The business has been acquired from a shareholder group headed by David Wraith, who was non-executive chairman and founder of the businesses.
Ken Terry, CEO at Elysian Capital, says: “We are delighted to be working with John and his team on this exciting opportunity. The management have done an excellent job in building the AHN business into the UK market leader in the Vehicle Mounted Access Platform sector and establishing WHN as a fast growing provider of safe and high quality welfare units for workers’ off-site requirements. We are keen to work with the management and invest to continue to grow the business in to complimentary areas to further service our customers.”
John Wood, CEO of AHN Limited and WHN Limited, says: “We are very pleased to have concluded this acquisition with Elysian Capital who share our vision for the future growth and development of our market leading businesses. AHN and WHN provide a critical service in support of the UK construction and infrastructure sectors. We believe that, with the help of Elysian Capital, we can expand the range, quantity and quality of products we offer and improve the services we provide to our customers. Our vans and welfare units are critical in providing UK infrastructure workers with safe, comfortable and efficient working facilities.”
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