TotalKare targets growth with MBO
A provider of heavy-duty vehicle lifting solutions is targeting growth after being bought as part of a management buy-out.
TotalKare, which sells mobile and fixed lifts to national operators and independent workshops, has been purchased by a team led by lifting specialist David Hall, chairman Mike Lord and fellow directors James Radford and Peter Geobey.
Supported by Santander, the Halesowen-based firm said the deal is an “ideal opportunity” to build on a record year that saw it boost turnover by £300,000, roll out new fixed two and four-post lifts and launch an online training platform to improve efficiency and health and safety in the sector.
“This is a very exciting time to be heading up the MBO, with TotalKare the market leader in our field and with lots of exciting new products to promote…this strong platform for growth owes a lot to the hard work and vision of former MD Tim Jackson and technical director Michael Gilliam,” says Hall.
“In the short-term, we want to build on our reputation for delivering solutions, so that it is about much more than just selling a specific set of lifts. It’s about the complete customer experience from their first contract through to initial site assessment, the training we provide and our best-in-class servicing and maintenance packages.
He added: “Our plan is to grow 20% over the next 18 months, with a specific focus on increasing market share with our two and four-post fixed lifts and the successful introduction of our innovative online training programme. The latter will reduce the time engineers need to be out of the workshop, with the courses completed on a tablet or laptop meaning they can be started and finished in a timescale that suits both the business and the employee.
“There are also some really ambitious plans for the longer-term, but we are keeping those close to our chest for now.”
The transaction was funded using debt facilities provided by Santander UK.
James Cooksey, growth capital director, added: “Santander are delighted to provide funding for the acquisition by David and the team and look forward to supporting their future growth plans.”
