Glastonbury fencer Eve Trakway completes Vincehire deal
EVE Trakway, the business which helped ensure the long-term future of the Glastonbury festival by preventing ‘fence jumpers’, has acquired fencing and barriers business Vincehire.
The Chesterfield-based company is Europe’s leading supplier of temporary roadways and walkways used in major rail, communication and utilities infrastructure projects and high-profile outdoor events.
Eve Trakway supplies roadways, footpaths, bridges, crowd control barriers and ground protection systems which have been used on a diverse range of projects including Live8, the RHS Chelsea Flower Show and the London Marathon.
It also developed the four metre-high, 7.5 km long Super Fortress Fence used at the Glastonbury festival since 2002 to curtail the practice of ‘fence jumping’ which saw thousands of people get into the festival without paying which threatened its future.
Advised by law firm Hammonds, Eve Trakway has bought Surrey-based Vincehire for an undisclosed sum, its second acquisition in five months, following the purchase of Fluid Event Interiors, a specialist provider of interior linings for temporary structures, venues and exhibitions, in November last year.
Eve sees the new acquisitions complementing its current services and its depot in Surrey will improve its geographical coverage in the UK.
Last year Eve completed a deal which saw private equity house LDC buy a minority stake in the business.
The deal, which was led by John Swarbrick and Alex Bowden from LDC’s Yorkshire office, provided the capital required to continue developing the company’s products and services and for acquisitions.
Rick Barnett, managing director at Eve Trakway, said: “We have been watching the growing success of Vincehire with a keen eye over the years and are delighted that Vincehire chose us when they decided to sell. We are very pleased to now welcome the team into the company.
“This acquisition not only complements our current business but highlights our desire to grow in the ongoing difficult economic situation.”
Vince Morris, managing director of Vincehire, commented: “Eve Trakway has an excellent reputation for providing a quality and competitive service which makes the transition for our customers and staff seamless.”
Paul Mann, associate in corporate strategy and finance for law firm Hammonds, in Leeds, who advised Eve Trakway, added: “This acquisition for Eve Trakway will further reinforce the company as a leader in the provision of temporary access and crowd control solutions.”
Founded 40 years ago, in April 2006 Eve Trakway was the subject of a management buyout (MBO) from support services firm Babcock led by managing director Rick Barnett and finance director Chris Lowton.
Since then the team has grown sales by nearly 27% to £16.5m and is targeting a further 60% growth in turnover over the next four years.
The business currently employs 150 people across its offices in Chesterfield, Lanark and Wimbledon and operates a fleet of 30 large goods vehicles.
