Buying and Selling - ExEcutivE REPORt
With an expanding portfolio and a stated aim to be nothing less than the ‘UK & Ireland’s leading independent hire company’, how many more acquisitions are planned going forward?
As you can see AER has been very acquisitive in a relatively short period of time, and we remain committed to our strategy. We are currently pursuing a number of acquisition opportunities that will enhance the groups offering in both the core and specialist markets and I expect us to bring you more exciting news of these through into early 2022.
Welfare cabins are required anywhere anyone needs shelter and a cuppa.
Did their input result in what you felt was a fair and reasonable price for the company?
Yes, definitely – the quality of the IM meant we were able to move quickly to produce an accurate proposed term sheet that fairly reflected the value for both parties and we closed on that basis following the due diligence.
From initial interest to completed purchase, how long did the process take – and was it a satisfactory experience for you?
We commenced negotiations in January and concluded the purchase in May. There are always some unforeseen issues to deal with in any acquisition, but they were relatively straightforward in the case of Welfare 4 Hire – it was a very satisfactory process.
Behind the scenes at Welfare 4 Hire, with stock ready to roll out.
THE GO-BETWEENS
Chris Harvey, co-founder of The Hire Exchange explains that the findings of the research conducted before launching The Hire Exchange has been borne out by their trading experience over the last two years.
“Specialism and market knowledge are crucial in this sector. Then it is about quality information a realistic assessment of ‘value’,” he says.
The Hire Exchange team, l-r: Directors Josh Llewellyn, Chris Harvey, David Graham and Chairman Mark Woods.
“Naturally, both buyers and sellers want to optimise value and both want a straightforward process, but what is most important is ‘strategic fit,’ where the seller’s business represents the best growth opportunity for the buyer. That’s where the real value lies. So the key is finding exactly the right buyer for each seller, providing the information needed to make an informed decision and the presentation of a compelling business.”
Nov/Dec 2021 - Executive Hire News 21
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