Plant hire firm acquired by Irish counterpart
Derbyshire-based tool, plant, access and power generation hire specialist Mainline Hire Group has been acquired by AER Rents – part of O’Flaherty Holdings Group – for an undisclosed sum.
Mainline Hire Group – which includes Mainline Tool & Plant Hire and Mainline Access & Training – was founded by Keith Williams and Carole Poynton in 1982.
The business will continue to function as a standalone brand within AER Rents, with all 34 employees remaining with the firm, including Williams and Poynton.
O’Flaherty Holdings was founded in the 1940s. Its subsidiaries include Motor Distributors Limited, distributors in Ireland of Mercedes-Benz passenger cars and commercial vehicles, and MSL – a network of independent motor dealerships providing sale and after-sales services for Mercedes-Benz, Mazda and Skoda.
The group first invested in plant hire in 2014, with the acquisition of London-based Mr Plant Hire. In 2019, the group also acquired Ireland-based Drogheda Hire & Sales.
Williams and Poynton said: “We have always had a good working relationship with Mr Plant Hire and are pleased to have the opportunity to become part of the AER Rents family. Mainline has always invested in class-leading assets and AER Rents’ investment will give the business and its customers access to expertise and resources to support our growth plans.”
Corporate partner Alice Rees and associate Isabelle Munyabarenzi, of law firm Nelsons acted for Williams and Poynton. Senior associate Paul Hinchliffe and legal director Melanie Morton, also of Nelsons, provided property support and employment advice respectively.
Rees said: “The transaction started towards the end of 2019 before the coronavirus pandemic hit. Once the government-ordered lockdowns and restrictions were introduced in March, all subsequent meetings had to take place virtually, which was very much an unknown during the early days of Covid.
“This was a transaction that required a team effort when none of us could be in the same room. We have a strong and close working relationship with Jacksons Accountants, which made it work for the clients.
“To have been able to get the acquisition over the line in the midst of multiple lockdowns was a real achievement for everyone involved. It was extremely satisfying to finally put pen to paper, especially just before Christmas.”
Julian Jackson, director at Jacksons Chartered Certified Accountants, who also supported Williams and Poynton with the deal, added: “I’ve worked with Keith and Carole, both personally and professionally, for a number of years now and I am very pleased to have been able to support them throughout the journey of this acquisition.”
AER Rents was advised by KPMG Corporate Finance & Legal Services, Dublin.
