Arrowpoint Advisory has the right tools for Brandon Hire
The Industrial sector team at Arrowpoint Advisory has advised the management team of Brandon Hire Ltd, the national tool hire specialist, on a successful 43m buy-out of the business from Wolseley plc.
Brandon is a leading tool and equipment hire business with nearly 1,000 employees and a national network of 177 depots across the UK. The Business has revenues of circa 70m but was being sold as it no longer fitted with Wolseley's core strategy.
Arrowpoint Advisory Partner and Head of Industrials, Patrick Groarke, and his team successfully worked with the incumbent management team led by Tim Smith, preparing the way for them to acquire the Business ahead of strong trade interest and on the most attractive terms.
Patrick comments: "With a range of major corporate customers and over 50,000 trade and small business accounts, Brandon is a leading name in the UK construction and building products sector, and this deal reinforces our position as the leading independent M&A adviser in the space. In Tim and his team Rutland have backed a great group of individuals well-placed to grow the Business over the next five years."
Tim Smith, CEO of Brandon Hire adds: "Arrowpoint Advisory did a fantastic job; they were key to unlocking this deal for us and their energy, enthusiasm and knowledge of both the sector and the investor community was a significant advantage for us throughout the process."