Corporate Partner, Tim Sadka led the Rix & Kay team
Quattro Group, an English leading operator of road and rail vehicles, has acquired AB 2000 Ltd and its group, a £30 million turnover Glasgow based plant specialist and Scotland’s largest privately owned hirer of operated plant and equipment. The combined business will have a turnover in excess of £70 million.
The AB 2000 group includes AB 2000 Ltd, Ellon Plant Hire Limited, Phoenix Weights Limited and Phoenix Marine Limited which have a combined fleet of over 450 items of plant ranging from mini excavators, concrete pumps to mobile cranes. The acquisition of the AB 2000 fleet gives a significant boost to the pre-existing Quattro Group fleet’s existing 450 items of plant and machinery.
John Murphy, managing director and founder of Quattro Group, commenting on the acquisition stated, “We are delighted to welcome the AB 2000 team to the Quattro Group family and are sure that moving forward this venture will help us to continue delivering the fantastic service that both the AB 2000 and Quattro Group teams are know for, whilst now moving forward together.
“Our plan is to resolutely maintain the cornerstones of what has made AB 2000 such a success and we are passionate about retaining and developing the talent and experience within the business. Watch this space it is going to be an exciting time North of the border!”
The acquisition has been funded by RBS ABL, Rix & Kay Solicitors LLP (Tim Sadka) and RSM Corporate Finance (Sukhi Johal) acting as advisors to Quattro Group. The selling shareholders of AB 2000 Limited were advised by Morton Fraser LLP (Iain Young). Brodies LLP (Robert Forman) provided advice on Scots law to South East based Rix & Kay.
Esther Jones, finance director, Quattro Group commented, “We are delighted to have had a strong team of professionals on our side to support and deliver what was a complex and consequently protracted process. On the legal side, Tim Sadka led the Rix & Kay team and, as always, ensured a professional and timely service was delivered with a focus on our commercial interests while encouraging a positive atmosphere and focus throughout.”.
Rix & Kay’s Corporate Partner, Tim Sadka observed, “I have worked with John Murphy and the Quattro Group team for many years; during that time Quattro Group has enjoyed sustained growth. This cross border transaction, supported by funding from RBS ABL and due diligence and corporate finance advice from RSM, allowed Rix & Kay to deliver for Quattro Group a multi faceted transaction, giving firm advice to our clients while being solutions focussed to address any challenges that arose along the way, ultimately completing in an orderly and timely manner. The combination of Quattro Group and AB 2000 is a compelling offering, especially for the rail sector, presenting a committed workforce focussed on outstanding customer service and an excellent range of assets available, to customers. We wish John Murphy and the Quattro Group/AB 2000 team all success for the future.”