KNIGHTSBRIDGE IS ON POINT WITH SALE

We were hired to facilitate the sale of a tool and small plant hire business…

Hirepoint Ltd, based in Sale, operates across Cheshire and Greater Manchester’s sectors of construction, fencing, and fabrication - catering to both private individuals and commercial customers.

Established by Anthony Holt in 1994, the business offers an extensive range of tools and small plant for hire, as well as equipment for decorating, cleaning and a range of additional purposes.

It has since experienced considerable growth, building lasting relationships with its customers. The team relocated to larger premises in 2006 to accommodate expansion.

The business prides itself on fast lead times and customer service, providing next-day delivery on equipment, and enabling regular customers to benefit from its credit account service.

Peter Taberner, Knightsbridge Deal Executive, led the sale for Anthony who plans to retire after many years of hard work, building his business from the ground up.

It fast became clear to the Knightsbridge team what Hirepoint’s key selling points should be presented to potential buyers: consistently high and increasing figures of turnover, gross profit, shareholders’ funds, and EBITDA.

Its loyal blue chip customer base, well-established industry relationships and strong local reputation has created reliable revenue without additional investment, providing a strong position from which to facilitate further growth.

With the help of Research Analyst Chloe Carroll, several potential buyers were sourced directly. Eight meetings resulted in two competing offers, which set up a positive outcome for our client…

“We achieved Anthony’s goal, delivering his desired value to help set up his retirement,” explained Peter, delighted with negotiating a highly significant deal.

The acquirer: Ideal Construction (Cheshire) (ICC), a Trafford-based business that was founded in 2018 by Ryan Walden, who “wanted Hirepoint to enhance his business plans and build on ICC”, Peter commented.

ICC provides a wide range of building services to domestic and commercial markets in the Manchester area; extensions, conversions, refurbishments, and new builds. It has a strong online presence, creating a growth opportunity to replicate this with Hirepoint.

“Anthony was thrilled we found someone who he deemed as a ‘preferred buyer’. As well as this, we exceeded his value expectations and he was pleased that we negotiated a suitable deal structure,” Peter concluded.

The Knightsbridge team are delighted to have assisted Anthony’s exit in the best possible way - we wish him the very happiest of retirements. We also wish the best of futures to Ryan and the two businesses involved in the deal.