Is this good news or bad news for Ainscough
Posted: Tue Jan 01, 2013 1:00 pm
Just read this in Vertikal.net,
I hope that this is good news and not going to be yet another asset stripping excercise by the City once again!!
Bradley Hall Holdings, the owner of the UK’s largest crane rental company Ainscough, has been acquired by a partnership made up of Goldman Sachs and private equity firm TPG. The business was purchased from Caird Capital a joint venture between Lloyds and Coller Capital.
The deal also coincides with £105 million of additional asset based finance, provided by GE Capital, Burdale Financial and RBS Invoice Finance, in order to help the company expand further into the renewable energy market.
Ainscough managing director Neil Partridge said: "The TPG and Goldman Sachs partnership brings extensive experience in the sector to Ainscough. They are extremely resourceful and will encourage our strategic thinking to further develop and grow the business."
Bradley Hall Holdings, the owner of the UK’s largest crane rental company Ainscough, has been acquired by a partnership made up of Goldman Sachs and private equity firm TPG. The business was purchased from Caird Capital a joint venture between Lloyds and Coller Capital.
The deal also coincides with £105 million of additional asset based finance, provided by GE Capital, Burdale Financial and RBS Invoice Finance, in order to help the company expand further into the renewable energy market.
Ainscough managing director Neil Partridge said: "The TPG and Goldman Sachs partnership brings extensive experience in the sector to Ainscough. They are extremely resourceful and will encourage our strategic thinking to further develop and grow the business."
Aisncough was the subject of a Management Buy Out from the Ainscough family in 2007, funded by an integrated debt and equity package. With Lloyds looking to reduce its debt load as part of its current restructuring programme, Ainscough was included in a package of companies offered to Goldman Sachs and others - but is one of the first deals to be completed.
Vertikal Comment
The change in ownership will have little immediate impact on the operational side of the Ainscough business. However it does give the company a stronger - restructured balance sheet and owners with the resources and more importantly the willingness, to raise funds and follow opportunities that may arise.
This is almost certainly good news for the company and its employees.
I hope that this is good news and not going to be yet another asset stripping excercise by the City once again!!
Bradley Hall Holdings, the owner of the UK’s largest crane rental company Ainscough, has been acquired by a partnership made up of Goldman Sachs and private equity firm TPG. The business was purchased from Caird Capital a joint venture between Lloyds and Coller Capital.
The deal also coincides with £105 million of additional asset based finance, provided by GE Capital, Burdale Financial and RBS Invoice Finance, in order to help the company expand further into the renewable energy market.
Ainscough managing director Neil Partridge said: "The TPG and Goldman Sachs partnership brings extensive experience in the sector to Ainscough. They are extremely resourceful and will encourage our strategic thinking to further develop and grow the business."
Bradley Hall Holdings, the owner of the UK’s largest crane rental company Ainscough, has been acquired by a partnership made up of Goldman Sachs and private equity firm TPG. The business was purchased from Caird Capital a joint venture between Lloyds and Coller Capital.
The deal also coincides with £105 million of additional asset based finance, provided by GE Capital, Burdale Financial and RBS Invoice Finance, in order to help the company expand further into the renewable energy market.
Ainscough managing director Neil Partridge said: "The TPG and Goldman Sachs partnership brings extensive experience in the sector to Ainscough. They are extremely resourceful and will encourage our strategic thinking to further develop and grow the business."
Aisncough was the subject of a Management Buy Out from the Ainscough family in 2007, funded by an integrated debt and equity package. With Lloyds looking to reduce its debt load as part of its current restructuring programme, Ainscough was included in a package of companies offered to Goldman Sachs and others - but is one of the first deals to be completed.
Vertikal Comment
The change in ownership will have little immediate impact on the operational side of the Ainscough business. However it does give the company a stronger - restructured balance sheet and owners with the resources and more importantly the willingness, to raise funds and follow opportunities that may arise.
This is almost certainly good news for the company and its employees.