Quattro Group announced today that it has acquired AB 2000, the Glasgow-based plant specialist in a multi-million pound deal.
Since its incorporation in 1995, AB 2000 has grown to be Scotland’s largest privately-owned hirer of operated plant and equipment, with a turnover of approximately £30 million. As such a significant player in the Scottish market, AB 2000 is a natural fit with Quattro Group, the UK’s leading operator of road rail vehicles.
The deal sees the acquisition of all trading divisions of AB 2000, including Ellon Plant Hire Limited, Phoenix Weights and Phoenix Marine. The organisation has a significant and varied fleet of over 450 items of plant, ranging from mini excavators, concrete pumps to mobile cranes, adding a significant boost to Quattro Group’s fleet of 450 existing machines.
John Murphy, Managing Director of Quattro Plant comments:
‘The AB 2000 team, led by Adam Bruce, has worked tirelessly to grow a great business centered on providing vital services to the Scottish market. This customer-service focus and high level of delivery sits perfectly in line with the Quattro Group ethos, and we felt that this deal would provide a natural partnership.’
The deal sees the merging of AB 2000’s Glasgow head office and two further regional depots with Quattro Group’s existing nationwide depot network, with all staff retaining their roles within the organisation and no significant changes to the key management. AB 2000 founder Adam Bruce will remain with the organisation as an advisor, and Jim Houston, currently AB 2000’s Chief Executive Officer, will hold the position of Managing Director.
AB 2000’s Adam Bruce comments:
‘At AB 2000 we have worked hard to succeed by hiring high quality, experienced people focused on providing our customers with leading-edge equipment and an outstanding customer service experience and I am confident that John Murphy and his team will continue with these core values.’
‘I would like to say “thank you” to the employees at AB 2000, our customers, our suppliers and other partners who have helped us succeed over the decades.’
John Murphy comments on the group’s plans for the future:
‘We are delighted to welcome the AB 2000 team to the Quattro Group family and are sure that moving forward this venture will help us all to continue delivering the fantastic service that both the AB 2000 and Quattro Group teams are known for, whilst forging forwards together.’
‘Our plan is to resolutely maintain the cornerstones of what has made AB 2000 such a success and are passionate about retaining the talent and experience within the business. Watch this space, it’s going to be an exciting time North of the border!’
The acquisition has been funded by RBS, with Rix & Kay LLP and RSM Corporate Finance acting as advisors. AB 2000 Ltd and the Selling Shareholders were advised by Morton Fraser LLP.