Category: Business Advisory, Corporate Finance

WHC Hire Services

Innovative plant and tool hire company WHC Hire Services Ltd approached us to help them make an acquisition that would allow them to expand into new territories and propel their business to new heights.

WHC is a leader in the plant hire community, and thrives on a reputation for outstanding quality and exemplary health and safety. The company originally operated from depots in Worcestershire and Gloucestershire, and became a client in 2013 when we acquired their original accountants.

The company was initially impressed by the advice and support we had offered upon becoming a client, and we were then able to forge a strong relationship with them built on strategic advice.

Acquisition for WHC Hire Service | Randall & Payne, Corporate Finance Cheltenham

Working with Will Abbott, our Head of Business Advisory, the senior management team developed a three-year growth strategy, with key objectives to expand the range of plant equipment offered, open a third depot, service a broader geographical customer base, and build and train second-tier management.

In October 2016, managing director James Clutterbuck approached Ollie Newbold, our Head of Corporate Finance, to advise on an acquisition opportunity. WHC had set their sights on Cotswold Tool and Plant Hire Ltd, and we were engaged to deliver the acquisition from start to finish, including initial negotiations, due diligence, financing and deal management. With access to a multitude of finance providers, owing to our longstanding relationships with major banks and independent finance houses, we secured the finance that James needed to confidently move forward with the transaction.

Acquisition for WHC Hire Service | Randall & Payne, Corporate Finance Cheltenham

Following our due diligence process and subsequent deal supervision, Cotswold Tool and Plant Hire was successfully sold to WHC on 28 February 2017. Upon visiting the new depot location in Chipping Norton, we were thrilled to see that, as a result of WHC’s careful planning, they had integrated the acquired business seamlessly into their operations, giving them a strong position in new territory.