Wed, 07 Aug 2024 | BUSINESS SALE
Deltron Lifts, a lift specialist based in Dudley, has made its first acquisition since securing backing from private equity firm LDC last month. The firm has acquired Kingswinford-based Elevate UK Lifts, a provider of lift maintenance and servicing, in a deal that boosts its presence across the Midlands.
Last month, LDC completed a minority investment in the firm, backing Deltron’s existing management team to undertake an ambitious growth strategy centred around complementary M&A deals and investment in its services.
Deltron maintains approximately 9,000 units for more than 1,700 UK customers, spanning the public and private sectors, and employs a team of 94 staff.
At the time of the investment, Deltron Group director Scott Haywood commented: "Our target market is growing, driven by increasing urbanisation and the need for the efficient flow of people and goods through densely-populated areas.”
"However, with this also comes a need for trusted, expert maintenance services to ensure elevators, service lifts, stairlifts and other products are operating effectively, safe for users and that organisations are compliant with all relevant standards."
Jerroms Corporate Finance provided lead sell-side advisory support to the owners of Elevate UK Lifts during the transaction.
Elevate UK director Harriet Taylor commented: "The Jerroms Corporate Finance team guided us through the process step by step, ensuring we had a clear understanding to make informed decisions. We were very impressed with their professionalism and commitment throughout.”
"It was important to us that the acquisition would ensure we continued to provide a”n excellent service to our customers, ensure the growth of the business and offer security for our staff."
Jerroms Corporate Finance Associate Ross Davis added: "This deal represents a perfect fit due to their geographic synergy and like-minded focus on excellent customer service. Both parties showed a genuine commitment to guarantee a successful transaction, ensuring its continued prosperity.”
Read more about securing private equity backing for an acquisitive growth strategy
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