LDC sells Eve Trakway to Ashtead

Ashtead's investment was made entirely in equity. The agreement also includes a £7m future consideration, dependent on Eve Trakway's performance under its new shareholder.

The UK-based company will join Ashtead's UK branch, A-Plant, which employs more than 1,900 staff and recorded a £204m turnover for the 12 months ending 31 January 2013, with an operating profit of £11m.

LDC originally acquired a minority stake in Eve Trakway in 2008, an expansion deal that included senior debt provided by Lloyds TSB.

The company completed three bolt-on acquisitions under LDC: Surrey-based barriers and fencing suppler Vincehire in April 2009, Anglia Traffic Management (ATM) Group Ltd in August 2009 and Essex-based mobile tower lighting provider Brightlights in October 2011.

Company
Eve Trakway was founded in Derbyshire in 1966. The company supplies temporary access systems such as pathways, roadways and bridges as well as on-site security systems and security guards. It has also been providing mobile lighting towers and equipment following its acquisition of Brightlights; crowd-control barriers and fencing through Vincehire; and traffic control and management signs through ATM Group.

Under LDC's backing, Eve Trakway's revenues increased by 56% to £26m as of March 2012. The company employs between 150-200 staff.

People
John Garner is the director of LDC's Yorkshire and North East investment team. Rick Barnett is Eve Trakway's managing director. Geoffrey Drabble is chief executive at Ashtead Group.

Advisers
Equity – Park Place, David Hardless, Ian Hale (Corporate finance); Squire Sanders, Paul Mann, Craig Pettit, Peter Morley (Legal, tax).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• UK / Ireland
• Industrials
• Trade sale
• United Kingdom
• LDC