HW Martin drives off with King Group
Derbyshire-based public and private works contractor HW Martin has bought Market Harborough’s King Group.
King, which is involved in the manufacture of vehicle trailers, traffic management equipment and special project vehicles, has been acquired by HW Martin for an undisclosed sum.
The King Vehicle Engineering Group includes King Trailers Limited, King Highway Products Limited, King Transport Equipment Limited and Safety Vehicle Hire and Lease Limited. It employs 125 staff in Market Harborough and will operate as a standalone business within the Martin Group.
HW Martin was established as a fencing contractor in 1972 and now has a turnover of more than £100m. It is headquartered in Alfreton and has 16 bases across the UK.
A statement from HW Martin said: “We have had a strong working relationship with the King group for a number of years. We are confident that this acquisition will bring benefits to both organisations and further demonstrates our commitment to reinvest profits in the Martin group to ensure continued progress and security.”
King Trailers was founded in 1962 and owner Mark Carrington joined the business as part of a management buyout in 1994 later gaining full ownership. The business subsequently diversified into a wider range of specialist vehicles across different market sectors where it holds dominant positions.
Carrington said: “Having spent 23 years in the business I was keen to identify a UK purchaser that shared my values for the business that would take a longer-term view of moving the business to the next level. I am committed to staying with the business for the foreseeable future to ensure a smooth transition.”
The deal was led by Corporate partner Mark Rutherford, who led a team in Gateley’s Nottingham office, which included solicitor Zum Mohammed and trainee solicitor Alicia Corby.
Rutherford said: “It was a pleasure to work on this transaction. King has been a client for over 15 years. The company is now in the safe hands of HW Martin and I am sure it will continue to go from strength to strength.”
