Elaghmore acquires McPhee Mixers

Financial details of the transaction remain undisclosed, though Elaghmore is currently investing from its £60m maiden fund, which typically writes equity cheques ranging from £5-10m.

The deal is the fourth acquisition made by the vehicle and comes a month after it acquired engineering company Priden Engineering from its management for just over £4m.

Following the deal, McPhee will continue to operate autonomously, though it will become part of the GP's Total Vehicle Solutions Group (TVS). TVS comprises both Priden and SB Components, which Elaghmore acquired in December 2016.

Under its new ownership structure, McPhee will invest in product development and the expansion of its existing sites. It will also undertake geographic expansion and bolster its sales and marketing operations.

Company
Founded in 1971, Glasgow-headquartered McPhee designs and manufactures truck-mounted concrete mixer units for use in the construction and quarrying sectors. It has an additional site in Chesterfield, Derbyshire, from where it undertakes servicing and repairs.

McPhee has a headcount of 70.

People
Elaghmore Partners – Andy Ducker (founding partner).
McPhee Mixers – Brinsley McFarlane (managing director).

Advisers
Equity – Mills & Reeve (legal).

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