UK-based Investment Firm Mentmore Capital Partners have acquired North-West based specialist vehicle contract hire business, Rowleys of Northwich Limited, for an undisclosed sum, in a deal part-funded by debt provider Triplepoint.
Operating from its dedicated facility in Cheshire, Rowleys of Northwich is a highly regarded contract hire business which provides an all-encompassing solution to cover vehicle supply and compliance to its customers.
The Company has transferred from the ownership of experienced Managing Director, Richard Rowley and his father Paul Rowley, who have worked together over three decades to build a top quality, respected brand in the region.
The vendors were advised by Yorkshire based, independent, specialist mid-market corporate finance boutique, Castle Square Corporate Finance and international law firm, Squire Patton Boggs.
Richard Rowley, said, “Rowley Contracts has been a successful family company for the best part of 50 years. The family had been considering options to ensure the long-term continuity. Security for the business’s staff and customers was a high priority.
We engaged with Kevan Shaw and Brad Green of Castle Square Corporate Finance and were expertly guided through the process, exploring the advantages and disadvantages of several possible outcomes.
Brad Green took the lead role and got a thorough understanding of our business. This proved invaluable as the deal progressed, and coupled with his experience in corporate finance, the deal concluded smoothly. His conscientious approach left no stone unturned, and I’d like to express our gratitude for his valued leadership.
We’re confident that the attention to detail demonstrated by Castle Square Corporate Finance will ensure that’ business as usual’ will continue for all staff, customers and wider partners.”
Brad Green, Partner at Castle Square Corporate Finance advised the Vendors on the sale, with the support of Assistant Manager, Josh Stokes.
Brad Green, said,“It has been a pleasure working with the Shareholders in this process. Richard and Paul have built something to be proud of, and it is pleasing to see them achieve the exit they deserve. We wish both, along with the team at Mentmore Capital all the very best for the future”.
James Thompson, Director in the Corporate team at Squire Patton Boggs provided corporate legal advice and support to the Vendors, with the support of Partner, Paul Mann and Associate, Gabriel Pennington.
James Thompson, said, “We are absolutely delighted to facilitate this transaction for a quality North-West business, supporting Richard and his team with Brad and Josh from Castle Square. We look forward to seeing the business go from strength to strength for all involved.”
Other advisers acting on the transaction included:
DRK Law provided property legal advice to the vendors.
Marriott Harrison LLP provided legal advice to Mentmore Capital.
Buzzacott provided financial due diligence advice to Mentmore Capital.