Glasgow plant hire business snapped up by English peer
● Firm snapped up in multi-millionpound transaction ● HQS to merge but no key changes to management
A Glasgow-based operated plant and equipment hire specialist has been snapped up by a Stratford-based peer in a multi-million-pound deal.
Quattro Group has acquired AB 2000, which was incorporated in 1995 and has become Scotland’s largest privatelyowned firm of its kind with turnover of about £30 million.
It is consequently a “natural fit” with Quattro Group, according to the latter, which offers professionally operated equipment services to the rail, road and construction industries.
The deal sees the acquisition of all trading divisions of AB 2000, including Ellon Plant Hire, Phoenix Weights and Phoenix Marine. The Scottish firm has a fleet of more than 450 items of plant, ranging from mini excavators and concrete pumps to mobile cranes, adding what Quattro Group describes as a “significant” boost to its own fleet of 450 machines.
John Murphy, managing director of Quattro Plant, praised the AB 2000 team for growing a “great business centred on providing vital services to the Scottish market”. He added:“thiscustomer-service focus and high level of delivery sits perfectly in line with the Quattro Group ethos, and we felt that this deal would provide a natural partnership.”
Under the transaction, AB 2000’s Glasgow head office and two further regional depots are to merge with Quattro Group’s existing nationwide depot network, with all staff retaining their roles in the organisation and no “significant” changes to the key management. AB 2000 founder Adam Bruce will remain with the organisation as an advisor, and Jim Houston, currently AB 2000’s chief executive, will be MD.
Murphy added: “We are delighted to welcome the AB 2000 team to the Quattro Group family and are sure that moving forward this venture will help us all to continue delivering the fantastic service that both the AB 2000 and Quattro Group teams are known for, whilst forging forwards together.
“Our plan is to resolutely maintain the cornerstones of what has made AB 2000 such a success and are passionate about retaining the talent and experience within the business. Watch this space, it’s going to be an exciting time north of the Border.”
Bruce said: “At AB 2000 we have worked hard to succeed by hiring high-quality, experienced people focused on providing our customers with leading-edge equipment and anoutstandingcustomerservice experience and I am confident that John Murphy and his team will continue with these core values.”
The acquisition has been funded by Royal Bank of Scotland, with Rix & Kay and RSM Corporate Finance acting as advisors. AB 2000 and the selling shareholders were advised by Morton Fraser.