Lifting equipment supplier completes acquisition
A lifting equipment supplier has completed an acquisition which as it moves forward for further growth.
Northallerton-based Ward Woolston Group, which owns Londonderry Garage Specialist Equipment (LGSE), has acquired LDH Plant.
The firm has completed the deal as it aims to build itself as one of the UK’s largest capital equipment dealers in the construction, demolition and waste management sectors.
Established two years ago, Ward Woolston Group is the largest supplier of Hiab truck mounted cranes and multilift demountable equipment in the UK.
The company employs 60 people engaged in the sale of new and used machinery, parts and repair services to customers in the public and private sector, including EMR, the world’s largest metal recycling company, YOR Waste and LC Vehicle Hire.
Led by managing director Scott Woolston, who co-owns the Group with chairman Michael Ward, the business has grown substantially, with revenue increasing from £6m in 2015 to £10m in 2017.
LDH Plant is a construction equipment supplier based in Newport, Wales. Trading for over 20 years, the company is an authorised dealer for plant and equipment.
Robert Vaughan, the former managing director of LDH Plant, will remain with the business as sales director and Nicholas Higgins will retain the role of operations director.
Scott Woolston said: “LDH Plant is a well-established company, founded on like-minded principles and a strong culture of client care, which will complement and strengthen our services across the UK and create a business with combined revenue of £16m.
“This acquisition forms part of our strategy to expand the business, with our aim to achieve a revenue of £50 million in the next five years through organic and acquisitive growth. We are looking to target businesses with similar synergies to help drive this momentum and deliver on our future plans.”
Legal adviser to the Ward Woolston Group was a team from Squire Patton Boggs, led by Corporate partner Paul Mann and associate Maxine Burton.
Maxine Burton added: “We have recently started working with Scott and the team, who are full of energy, enthusiasm and ambition to grow and develop their business, and it give us great pleasure to have advised on their first transaction. We look forward to continuing to work in partnership with them on future acquisitions as part of their five-year plan.”
Financial due diligence was provided by Richard Hayter of Hentons.
