The Castle Square Corporate Finance team led negotiations in the sale of Abel Demountable Systems to Wheelbase Holdings Limited, which is also the holding company of Wheelbase Engineering Limited. Castle Square’s team, led by Director Kevan Shaw, advised the shareholders of Abel Demountable Systems Limited on their successful exit, via a trade sale to competitor, Wheelbase Engineering.
The team identified potential acquirers and ran an auction process, leading to receipt of a number of bids with Wheelbase Engineering emerging as the preferred bidder. Based in Chesterfield, Abel is one of the UK’s longest established designers and manufacturers of demountable equipment, drawbar trailers and bodywork.
Boasting an unrivalled reputation in the industry the business has developed strong technical competence and product innovation capability and benefits from a highly skilled workforce. Abel counts names such as Wincanton distribution, Hanson Group, John Lewis, Polypipe and Bensons for Beds among its customers.
Kevan Shaw said, “Castle Square are delighted to have acted on this transaction, which secures a successful exit for the shareholders of Abel Demountables but also ensures the future success of the company in the hands of Wheelbase, for whom the purchase is an excellent strategic fit”
