Wilkes Partnership advises PPS on BGF funded acquisition
The Corporate team at the Wilkes Partnership Solicitors (TWP), led by Rick Smyth, has advised PPS Equipment Holdings Limited on the acquisition of Alison Handling Services Limited (“AHS”).
TWP advised in negotiating the terms of the acquisition with AHS as well as the investment by the Business Growth Fund, who provided PPS £4.9m to fund the acquisition. Mike Linford (corporate) and Kirstie Forrester (property) assisted on the deal, including Corporate Finance advisers Transcend Corporate Finance lead the deal and introduced BGF as funders.
PPS is a provider of returnable transit packaging and container solutions to retailers, food processors and the automotive industry. The group currently operates from East Staffordshire and Grimsby, the number of sites increasing to include AHS in Lancashire.
PPS currently provides customers with the delivery, collection, asset tracking, hygienic washing, rental and repair of the equipment, as well as being a cost effective and environmentally friendly alternative to cardboard and polystyrene single use packaging.
AHS is Europe’s largest independent stockist of new and used plastic boxes, containers and pallets in the UK.
The combination will expand the range of products and services offered to customers, whilst also increasing the group’s geographical footprint.
David Peggie, Chief Executive of PPS, said: “We’ve admired the services and reputation of AHS for many years. Now, as Tony Dearden looks to retire from the company he set up, we are proud to be able to take on the exceptional services and impressive customer base AHS has created.”
“The team at the Wilkes Partnership provided a partner lead, expert service which was both pro-active and pragmatic. Their advice was instrumental in getting the deal done. We were pleased to be working with them again and to be able to take advantage of their considerable experience and expertise in these sorts of transactions.”
”PPS has developed rapidly over the past thirteen years and this deal and the significant expansion of its site in Grimsby, is the next step in the plan to bring an all-encompassing, top quality service to those looking for re-usable packaging.”
Rick Smyth, Corporate Partner, said: “The Investment by BGF and the acquisition of AHS provides an exciting platform for PPS to continue its successful growth. Having advised on a number of similar BGF investments, we think that the business will benefit tremendously from BGF’s investment and involvement. We were delighted to be involved. Our aim is to build long term, trusted advisor relationships with our clients and we look forward to working with David and the PPS team on going forward”.
For more information on how the team at the Wilkes Partnership can help your business, please contact Rick Smyth on 0121 233 4333.