Endless exits O&H in management buy-back

O&H managing director Oliver North, technical director Wes Linton and newly appointed chair Ken Davy have acquired the company. Endless appointed North as the new managing director in January 2019 and Davy has been appointed chair as part of this transaction.

Endless partner Matthew Jubb told Unquote that recent contract wins and upcoming tenders meant the timing was write for the business for Endless to exit.

The firm has now fully exited the company. During its holding period, Endless refocused the company on its core business of emergency vehicles.

Over the last eight months, the new management team has implemented a programme of research and development, as well as changes to the company's culture.

Previous funding
Special situations investor Endless acquired the company in 2016 using its Endless Fund IV vehicle, which closed on €525m in 2014. The firm agreed to refinance the company and provide additional working capital as part of the transaction.

Company
Founded in 1988, Goole-based O&H converts vehicles for specialist use. Typical projects include the conversion of vehicles into ambulances and wheelchair-access vehicles. The company employs 150 people.

People
Endless – Matthew Jubb (partner).
O&H Vehicle Technology – Oliver North (managing director); Wes Linton (technical director); Ken Davy (chairman).

Advisers
Vendor – Walker Morris, Debbie Jackson (legal).

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