Eve

EVE TRAKWAY LAYS DOWN LDC DEAL TO ACCESS ACQUISITION FUNDING

Eve Trakway, Europe’s leading supplier of temporary access solutions, is setting its sights on expansion with the help of mid-market private equity house LDC.
 
After Eve Trakway completed a management buyout (MBO) from support services firm Babcock plc in 2006, the team has grown sales by nearly 27 per cent to £16.5million and is targeting a further 60 per cent growth in turnover over the next four years.
 
Keen to continue its expansion, Eve Trakway has secured the backing of LDC which has invested an undisclosed sum into the business and now claims a minority stake in the organisation.
 
The deal, which was led by LDC’s Yorkshire office, will provide the capital required to continue developing the company’s products and services and ensure funding is available to acquire complementary businesses.

This will allow them to build on last year’s acquisition of the UK hire business for Rola-Trac, Supa-Trac and Alli-Trac from Rola-Trac Ltd. This enabled Eve Trakway to offer a complete range of pitch coverings, temporary car parks and walkways, cementing its place at the forefront of the industry.

Park Place Corporate Finance acted as lead advisors on the deal whilst the acquisition finance team within Lloyds TSB Corporate Markets provided senior debt and working capital facilities.

Rick Barnett, managing director of Eve Trakway, said: “Since the buyout we’ve focused on developing strong, long-term customer relationships by continuously expanding our hire fleet and creating a suite of complementary management services.
 
“We’ve now reached the stage where an acquisitional strategy is the best route to gaining the scale and expanded range of products needed to fully capitalise on the huge potential this firm has.
 
“We were keen to partner with LDC as, in addition to providing funding, their relationship-based approach will ensure we can draw on their experience and track record of successfully building businesses through acquisitions and simultaneous organic expansion.”

John Swarbrick, director at the Leeds office of LDC, said: “With positive dynamics in a number of its core markets and a highly professional management team, Eve Trakway is ideally positioned for growth.

“Demand for its services is being driven by an industrial sector which is committed to investing in infrastructure and a market for concerts, festivals and non-music events which is experiencing double digit year-on-year growth.
 
“Our approach to private equity investment will ensure management has the necessary support to identify, target and execute potential acquisitions whilst providing crucial support for the post-deal integration of the businesses.”