BGF-backed SHS bolts on Dixon Pentland

The company financed the acquisition with the capital contributed by BGF last September. The deal marks the first acquisition made by SHS following BGF's equity injection.

Grant Thornton Corporate Finance introduced the two companies. According to SHS finance director Gavin Payne, SHS plans on continuing to work with Grant Thornton in the hope of seeking out further acquisition prospects.

The merger will allow SHS to expand its business on a national scale. SHS provides integrated scaffolding services for the petrochemical, oil and power generation sectors.

Previous funding
BGF invested £5.4m in SHS last September with the intention of doubling the size of the company over the following three years. At the time of BGF's investment, SHS employed 226 members of staff and reported a turnover of £14m for the year ending July 2012, which was a 60% increase on the previous year. The company was founded in 1998 and is headquartered in Barry, Wales.

Company
Established in 1968, Dixon Pentland is headquartered in Doncaster and currently employs 65 staff. The company has an annual turnover of £5m.

Dixon Pentland provides scaffolding services to energy and industrial companies and specialises in the critical services sector, such as the power line and transmission industry. Clients include AMEC, Babcock and Balfour Beatty.

People
Paul Oldham is the regional director for South Wales and the South West of England at BGF. SHS finance director Gavin Payne led the deal for the company.

Advisers
Acquirer – Grant Thornton Corporate Finance, Chris Burgess (Corporate finance); KPMG, Simon Jones (Tax); Geldards, Andrew Morris, Martyn Davies (Legal).

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• Topics
• UK / Ireland
• Portfolio management
• Industrials
• BGF (Business Growth Fund)
• United Kingdom
• Grant Thornton