£30m funding supports Eldapoint Group’s latest acquisition

Liverpool manufacturer Eldapoint Group has continued with its buy and build strategy following the latest acquisition of High Peak-based JS Burgess.

The ‘transformative transaction’ has been financed by £30m of long-term funding provided by Pricoa Private Capital.

This will support the refinancing of the Eldapoint’s existing debt, the acquisition of Burgess and further strategic acquisitions in the near term.

This funding also provides significant financial flexibility to deliver the group’s wider strategic growth plans including increased manufacturing capacity to support organic growth.

Eldapoint Group is a leading provider of temporary and tailor-made prefabricated operating facilities, as well as storage and depot services to global shipping lines out of Liverpool, Grangemouth and Felixstowe ports.  It is majority owned by Manchester-based a2e Industries, an investment vehicle founded and owned by Amin Amiri.

The acquisition of JS Burgess Engineering is a continuation of the Group’s recent strategic acquisitions, with TF Jackson and GWR Engineering both acquired in the last 12 months.

The Group has enhanced its senior management team and is poised to grow, with the benefit of Pricoa’s funding to support future investment for growth.

Eldapoint Group will continue to be led on a day-to-day basis by CEO Stuart Chidley and CFO James Collier.

James Collier, CFO of Eldapoint: “The completion of the transaction is a culmination of a significant effort by both internal and external stakeholders and is transformative for the business.

“The Group, having been supported from the onset of our recent acquisition strategy by Close Brothers, and now with our new relationship with Pricoa, is well placed to push for further expansion through acquisition and investment in our people and facilities.

“This will allow us to continue to provide our customers with the very best products and services, building on the foundations laid by our CEO Stuart Chidley over his 45 years of service with the business.”

Amin Amiri, founder and CEO of a2e Industries: “This transaction showcases the “potency” of Amin Amiri and a2e’s impact in conjunction with management teams, when building strategically focused industrial groups.

“Eldapoint Group now occupies a unique position in this industry with critical mass of expertise, knowhow and products, fit for the 21st century and capable of fulfilling the high expectations of our customers.

“We are delighted that Pricoa, having invested £30m, support our vision and are a major partner in fulfilling our ambitions. Our thanks go to Close Brothers for their continued support, Hill Dickinson and KPMG for their steadfast help on the transaction.”

Adam Shield, director for Pricoa Private Capital: “Pricoa is providing patient, transformational risk capital to support the ambition of the senior leadership team in bringing together the Group through M&A activity and organic investment.

“The enlarged group is a well-diversified, scale operator with significant growth opportunities, and we look forward to working together with all stakeholders to realise this potential.”