Platform hire expert expands into London with acquisition

A Leigh-based powered access platform company has expanded its reach to the London market following an acquisition deal.

Aspire Platforms, established by Vincent Rourke two years ago, has completed the all share purchase acquisition, for an undisclosed sum, of alloy tower and aerial lift rental operations company, London Tower Services.

With gross assets in the region of £4.5m, LTS is a well-established and well-known specialist access provider.

The acquisition shows a clear statement of Aspire’s ambition to build its brand and create a national network of specialist access hire services to support its loyal customers across the UK, the company said.

Late last year Vincent Rourke and Simon Dunn established parent company Aspire Group of Businesses, prior to looking out for acquisition opportunities to expand on their current footprint in Manchester and Yorkshire.

With an existing fleet of 305 platforms, mostly consisting of self-propelled boom and scissor lifts, they say it is clear to see that LTS is going to be a great asset to the growing brand, which takes their total machine count to 745.

Vincent Rourke said: “LTS is the perfect partner and this acquisition delivers on all fronts.

“Firstly, it gives us an excellent geographic location from which to service the wider London and South East market.

“Secondly, it gives us two well respected businesses and brands with the resources and expertise to offer a comprehensive range of access solutions, from conventional aluminium towers to aerial work platforms and specialist products and services to the rail sector.”

Corporate finance advice to Aspire was provided by Leonherman, the firm’s retained advisors, and the lending facility was provided by PMD’s Structured Finance Solutions division.

Legal advice was provided by David Easdown and Ryan Tweedale at Knights.

Callum Bull, structured finance director at PMD Business Finance, said: “We are proud to have supported Aspire through the acquisition and to provide a quick turnaround for Vincent and Simon for what was an incredibly important deal for the business’s future growth plans.

“It is an exciting time for all at Aspire and we look forward to seeing what the future holds for the Aspire brand and to see how far they spread their national footprint.”

Jerry Scriven, corporate finance partner at Leonherman, said: “Having worked with Vincent, Simon and the team since Aspire’s inception we are delighted to have helped them secure this pivotal transaction for the business’s future strategy, particularly in such a challenging deal-making environment. We look forward with relish to supporting them on the next stage on their growth journey.”

Aspire chairman, Simon Dunn, said: “Our continued growth and all-round performance in Manchester and Yorkshire, despite the market uncertainty, has been amazing and this has given the board and our young and dynamic management team the confidence to expand into London and the South East.”