Vision Capital exits Pirtek to Halifax

Under Vision Capital's tenure, the company has increased its number of franchises in continental Europe and increased its share of the UK market.

Pirtek's executive chairman Kelvin Roberts is to step down from his position following completion of the deal, while the rest of the management team will continue in their roles.

Previous funding
Bridgepoint Capital and Phoenix Private Equity bought Pirtek in 1997 in a deal worth £11m. Vision Capital acquired Bridgepoint's stake in Pirtek ten years later, as part of a direct secondaries deal including five other businesses.

Company
Headquartered in London and founded in 1988, Pirtek is a provider of emergency hydraulic hose replacement services to operators of heavy machinery. The business generated revenues of £29m in the year to March 2014 and has 125 franchises across six countries.

People
Dave Lamb is head of the European investment team at Vision Capital. Scott Plumridge is a principal at the Halifax Group.

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