Successful disposal of the One Call Hire group
An integrated, cross-disciplinary Deloitte team advised on the sale to Duke Street Capital and Searchlight Capital
A cross-disciplinary team including M&A Advisory, Business Modelling and Tax has advised the shareholders of the One Call Hire group (“One Call”) on its sale to Searchlight Capital Partners, L.P. and Duke Street LLP.
About One Call Hire
One Call is headquartered in Enfield, Middlesex and is one of the UK’s leading plant hire companies supplying excavators, dumpers, telehandlers, rollers and dozers to the UK construction and infrastructure sectors.
The company operates through a network of eight further depots which span Cambridgeshire, Oxford, Kent, the Midlands, Bristol, Southampton, Suffolk and Warrington.
Deloitte secured the mandate following a competitive pitch led by Paul Trickett and Paul Roberts who demonstrated both Deloitte’s in-depth knowledge of the hire market and relevant recent credentials.
Commenting on Deloitte’s appointment, John Fitzpatrick, Chairman of One Call said: “Selling your family business brings a different set of challenges to other types of deal and we needed an adviser who would listen and could understand what mattered most to the shareholders. When we pitched corporate finance advisers, it was clear that Deloitte had the best understanding of the industry and the most experience, but we were also confident that the relationship best fitted what the One Call Hire team needed – straightforward, objective advice from people we’d enjoy working with.”
Paul Trickett, Lead Partner of the Building Products and Construction group, and Director Paul Roberts led a national Deloitte team providing financial advisory services to the shareholders.
A separate team led by Stuart Cottee and Stephen Hall provided pre-transaction structuring, VAT and transaction tax advice to the company and shareholders.
The One Call Hire group was successfully sold to funds managed by Searchlight Capital Partners, L.P. and Duke Street LLP, in a transaction which also saw them acquire a controlling interest in Fork Rent Limited. The combination of these two businesses will create one of the UK’s largest providers of rental equipment into the construction industry.
John Fitzpatrick commenting on the Deloitte team: “They rolled up their sleeves – especially when we hit the inevitable bumps in the road – and didn’t give up until the deal completed, achieving a fantastic outcome for the shareholders and business.”