Leeds-based Chippindale Plant acquires Lancashire company in £2.7m deal
Chippindale Plant Hire, which has its head office in Lower Wortley, Leeds, has completed a deal to acquire Wilmslow Plant Hire based in Stockport, Greater Manchester for £2.7m.
In addition to retaining all nine staff employed by the Lancashire firm, which has been trading since 1947, Chippindale will be investing in the site with the addition of new machinery and an increased workforce.
Following the acquisition, Chippindale now has a network of eight depots and more than 100 employees throughout the north.
As part of the deal, Chippindale has also purchased AG Site Services, a leading provider of steel worksite units, including temporary offices, kitchens/canteens, WCs and storage containers.
Speaking about the acquisition, joint managing director, Nigel Chippindale, said,
“The purchase of one of the North West’s leading plant hire companies extends our reach across the Pennines and means we are now well placed to serve customers across the whole of the North of England.
“As well as the deal coming at the right time in our expansion programme, the range of plant and equipment in Stockport is a mirror image of our own and it will therefore be a seamless fit. The process of re-branding the depot and equipment will begin straight away.
“In addition we are excited by the potential of AG. Offering worksite accommodation to our customer base brings us new opportunities and broadens our range of services. AG has built up an excellent reputation over 30 years and it will continue to trade under its existing name within the Chippindale Group.”
Director of Corporate Finance at Lupton Fawcett, Michele Phillips, who advised on the deal, commented,
“Nigel and Peter Chippindale are both ambitious and far sighted and this latest acquisition certainly signals their intent to continue to develop and grow the family business, which was founded 65 years ago, to become one of the largest privately-owned construction equipment hire and sales companies in the UK.”
Chippindale was also advised by accountants Montpelier Professional.