Access Hire Nationwide Limited and Welfare Hire Nationwide Limited have been acquired in a venture capital backed management buyout by Elysian Capital I LP.
AHN is the market-leading player in the hire of high quality, specialist powered access and welfare vehicles in the UK and provides Vehicle Mounted Access Platforms to end use markets in infrastructure maintenance. Only a third of the market is currently serviced through outsourced rental fleets with the remainder being serviced by in-house fleets.
WHN is a strongly growing business which provides mobile and static welfare pods (temporary eating and washroom facilities for workers) on short to medium-term hire contracts. The market is primarily driven by health & safety regulations with employers now required to provide a reasonable working environment for their employees.
All the AHN vehicles are managed from a single site in Normanton, near Wakefield while mobile and static welfare units, under WHN, are located at a single site in Monmouth, South Wales. The business has been acquired from a shareholder group headed by David Wraith, who was non-executive Chairman and founder of the businesses.
Ken Terry, CEO at Elysian Capital said:
“We are delighted to be working with John and his team on this exciting opportunity. The management have done an excellent job in building the AHN business into the UK market leader in the Vehicle Mounted Access Platform sector and establishing WHN as a fast growing provider of safe and high quality welfare units for workers’ off-site requirements. We are keen to work with the management and invest to continue to grow the business in to complimentary areas to further service our customers”.
This is the eighth platform deal in the Elysian Capital I LP Fund and the fourth acquisition made by Elysian in the last 18 months. Elysian Capital is an independent, private equity firm specialising in investing in the UK lower mid-market in deals of between £10m and £100m.
John Wood, CEO of AHN Limited and WHN Limited added:
“We are very pleased to have concluded this acquisition with Elysian Capital who share our vision for the future growth and development of our market leading businesses. AHN and WHN provide a critical service in support of the UK construction and infrastructure sectors.”
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