Squire Patton Boggs in Leeds has advised Ward Woolston Group, which owns Londonderry Garage Specialist Equipment (LGSE), on the acquisition of LDH Plant Limited, as the company aims to build one of the UK's largest capital equipment dealers in the construction, demolition and waste management sectors.
Established two years ago, Ward Woolston Group is the largest supplier of Hiab truck mounted cranes and multilift demountable equipment in the UK. The company employs 60 people engaged in the sale of new and used machinery, parts and repair services to customers in the public and private sector, including EMR, the world's largest metal recycling company, YOR Waste and LC Vehicle Hire. Led by managing director Scott Woolston, who co-owns the group with chairman Michael Ward, the business has grown substantially, with revenue increasing from £6 million in 2015 to £10 million in 2017.
LDH Plant Limited is a construction equipment supplier based in Newport, Wales. Trading for over 20 years, the company is an authorised dealer for Case Construction, Terex, Montabert and Mecalac plant and equipment, supplying businesses across Wales, Herefordshire, Gloucestershire, Wiltshire and Oxfordshire.
Robert Vaughan, the former managing director of LDH Plant, will remain with the business as sales director and Nicholas Higgins will retain the role of operations director.
Scott Woolston commented: "LDH Plant is a well-established company, founded on like-minded principles and a strong culture of client care, which will complement and strengthen our services across the UK and create a business with combined revenue of £16 million.
"This acquisition forms part of our strategy to expand the business, with our aim to achieve a revenue of £50 million in the next five years through organic and acquisitive growth. We are looking to target businesses with similar synergies to help drive this momentum and deliver on our future plans."
Corporate partner Paul Mann and associate Maxine Burton advised Ward Woolston Group on the acquisition.
Maxine Burton commented: "We have recently started working with Scott and the team, who are full of energy, enthusiasm and ambition to grow and develop their business, and it give us great pleasure to have advised on their first transaction. We look forward to continuing to work in partnership with them on future acquisitions as part of their five-year plan."
Squire Patton Boggs is ranked number one by volume and value of deals completed in Yorkshire and the Humber in the year to date M&A report published by Experian on 1 November 2017. The firm won Legal Team of the Year at the 2017 BusinessDesk Rainmaker Awards.