International law firm Taylor Wessing has advised Rutland Partners on the simultaneous acquisitions of AFI-Uplift in the UK, Access Rental Gulf in the Middle East and Hi-Reach in the UK for a combined enterprise value of circa GBP85m.
All three businesses are providers of powered access equipment rental for performing work at height. AFI also provides complementary services including safety related training and the resale of ex fleet and third party sourced machines. The triple acquisition cements AFI’s position as a leading operator in the UK market and creates an enlarged group that will be well positioned for further domestic and international growth.
The acquisition follows on the back of a busy 2012 for Rutland, including investments in Pizza Hut UK and Buy as You View, as well as successful sales of Pulse Home Products, Notemachine and Attends Healthcare.
Oliver Jones, partner of Rutland, says: “This complex and simultaneous combination of three businesses, and their planned integration and development, is a prime example of a Rutland deal. We enjoyed working with the Taylor Wessing team, and are grateful for the high quality of advice, support and relevant expertise that they provided throughout the process.”
Nick Hazell (pictured), head of Taylor Wessing’s UK private equity group, says: “We were delighted to assist Rutland with this complex transaction that involved a large number of stakeholders and professional advisers. This deal represents a fantastic opportunity for Rutland to utilise its operational expertise alongside an entrepreneurial management team with great ambitions for future growth.”
Nick Hazell and Ed Waldron led the corporate team with assistance from Tim Davidson, Kate Singer, Jonny Bethell and Michelle Lew. Debt finance advice was provided by Martin Yells with assistance from Gabriel Estevez and Kyle Adams. Simon Gorham advised on employment.
