19th April 2017
Dow Schofield Watts Transaction Services team in Yorkshire have provided financial due diligence to Netherlands-based rental company Boels Rental to facilitate its acquisition of Supply UK Group. Dow Schofield Watts also provided tax advice on the deal.
Boels Rental is one of the fastest growing rental businesses in continental Europe. The acquisition, which is one of the most significant recent deals in Europe’s rental market, sees it move into the UK for the first time.
Supply UK is a national tool hire business, based in Manchester and with 25 branches throughout the UK, including five specialist survey and laser rental locations.
Boels did not disclose the acquisition price. It said Supply’s current managing director, Chris haycocks, will remain with the company and “lead the next phase of growth”. Supply UK Group will be rebranded as Boels in the future.
Pierre Boels, managing director of Boels Rental, said: “The UK is the largest market for equipment and tool rental in Europe, so it was a natural step for us, having found the right team in Supply UK that shares our customer service ethos.
“The rental concepts we will bring, together with continued investment in new equipment and facilities, will work well for customers in the UK.”
Supply UK Group managing director Chris Haycocks said: “Boels’ investment will enable us to offer an ever increasing selection of new equipment during our next phases of growth.”
DSW Partner, Rob McCarthy, commented “We are very proud to have supported the transaction, working with Europe’s leading rental specialist as they establish themselves in the UK for the first time.”
Jeff Eisenberg, corporate finance advisor to Boels, added: “It was a pleasure to work with the team at DSW, with their efficient, professional and diplomatic “can do” approach to getting transactions completed.”
Boels Rental operates from more than 350 locations in the Netherlands, Germany, Belgium, Luxembourg, Austria, Switzerland, the Czech Republic, Poland, Italy and Slovakia.