Midlands team advises on £15m private equity deal

A team from the Midlands have worked on a major investment from a private equity firm into a plant hire company.

Livingbridge, the mid-market private equity investor, has pumped £15m investment into Nationwide Hire, an aggregator of equipment rental and hire services.

Orbis Partners originated the deal and provided lead advisory services to the management team of Nationwide Hire. Tom McCarthy of Orbis Partners led the transaction.

Senior debt and working capital facilities were provided by the Midlands office of Clydesdale & Yorkshire Bank Corporate & Structured Finance led by Alpesh Patel and Ian Fairclough.

James Dyson and Ashika Patel of Freeths provided legal advice to Clydesdale & Yorkshire Bank.

Nationwide Hire manages a network of over 4,000 suppliers based in over 9,000 locations across the UK and Ireland with access to more than five million products. The firm has over 70 staff and turns over £16m a year.

Tom McCarthy at Orbis Partners, said: “It has been a pleasure working with the team at Nationwide. They have developed an innovative, market leading proposition. Coupled with Livingbridge’s expertise in the rental and technology spaces, Nationwide is set for an exciting new chapter.’

Alpesh Patel of CYB said: “Clydesdale & Yorkshire Bank has a long and successful track record of working alongside Livingbridge and we have been delighted to support them in their investment in Nationwide.”

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