Funding fuels acquisition of plant hire duo
A £2.5m funding facility has driven the next chapter for Shropshire-based A T Wilde & Son and Wildes Plant Hire.
The firms have been acquired by Peter Venn, the former managing director of forklift dealer Stacatruc and managing director of Zofre Investments Limited. The deal will see the business continue under the existing trading names, with Venn at the helm and both David and Peter Wilde still involved in the business.
The deal was supported by a funding package from Arbuthnot Commercial Asset Based Lending, which includes a £500k receivables finance facility and a £2m plant and machinery loan.
A T Wilde & Son, a family business established in 1937 by Alfred Thomas Wilde, began as a blacksmith shop before expanding into the supply of Lister Petter engines and gensets.
Today, the company provides parts and engines from leading manufacturers and works closely with its sister company, Wildes Plant Hire, founded in 1964. Together, the businesses supply machines, parts, and hire services to the agricultural, construction, and plant hire sectors across Shropshire.
After three generations of family leadership, the Wilde family decided it was time to sell.
Peter Venn said: “When I first looked at the Wildes’ business, I didn’t realise how well-established and well-known they were. I’m delighted to have been able to complete the purchase of both the plant hire and plant parts sides of the business and to have the opportunity to join this excellent team, working closely with David and Peter Wilde.”
Exiting Director Ian Wilde of Wilde Plant Hire said: “I’m delighted that we’re handing over the business to Peter, who will continue to successfully run it as his own, in the way that we as a family have over three generations. Having worked with Azets’ for many years, it was refreshing to know that the Azets’ corporate finance, compliance and tax teams ensured the deal was a seamless transaction, which has been imperative to allow for business as usual during the process. They’ve always given us the support we need when we need it.”
Ian, Keith, Peter and David Wilde were advised by Azets Corporate Finance (Natasha Hill), Azets Tax (Francesca Hutcheson), Azets Compliance (James Dawson) teams, as well as legal advice by ORJ Law Limited. Zofre Investments Limited was advised by Cripps.
Azets Natasha Hill, Associate Director at Azets in Shrewsbury said: “This high-profile Shropshire transaction highlights our commitment to supporting clients with tailored solutions and hands-on guidance, securing the succession of the Wildes’ family business under new ownership with continuing operational involvement by the family. We are proud of the fact that we can provide the full range of quality advisory services in the region and worked with a local legal firm to achieve the family’s desired outcome.”
