Rutland acquires Brandon Hire for £43m

This is the fourth investment for the £322m Rutland Fund II, which was raised in 2007. Depending on the final debt-to-equity ratio, the vehicle will be approximately 40% drawn down following the transaction.

Rutland aims to help management in its efforts to turn the business around, following a couple of difficult years. Brandon Hire is a tool and equipment hire business with a national network of 177 depots. The company posted a £70m turnover for 2009 and employs nearly 1,000 people. Wolseley chose to sell Brandon Hire as it no longer fits with its strategic objectives.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com

 

 

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