Home » News » Press Releases » May 2007
Press ReleaseMay 2007: Acquisition gives a lift to AGA Lifting ServicesLong established Sheffield steel fabricators Robert Clark and Sons have been acquired by two directors of crane and lifting systems company AGA Lifting Services for an undisclosed sum. The combined company has a workforce of 60 people and an annual turnover of £4 million. It will operate from Robert Clark’s workshops and offices in Wallace Road. The deal, which involved no redundancies, has given AGA Lifting Services a platform for further expansion.
The deal was structured by UHY Wingfield Slater, one of Sheffield’s leading accountants and business advisers. Partner John Wingfield helped raise the finance from South Yorkshire Investment Fund and Royal Bank of Scotland for the acquisition and carried out due diligence. AGA Lifting Services was founded in Sheffield in 1998 by engineers Alan Taylor, managing director, and Steve Gillions, technical director. The directors of Robert Clark, which was founded 45 years ago, are Brett McKay (production), Anthony Marples (commercial) and Barry Marshall, (sales). They have joined the board of the new company. Alan Taylor said: “This is an exciting opportunity for us. We design and install lifting equipment nationwide. The acquisition of Robert Clark gives us the inhouse facility to fabricate the equipment we design. Previously we had to subcontract this work. “We can take full advantage of Robert Clark’s 13,500 square feet of floor space with overhead crane facilities capable of taking loads up to 15 tonnes. “The deal means we can now offer our customers a multiskilled contracting team and a craft and technically based manufacturing facility, together with the assurance that all planning and implementation work will still take place at board level.” He said AGA Lifting Services had used UHY Wingfield Slater for tax, accounting and business advice for the past six years. “John Wingfield and his team have helped us develop and grow during that time. Their hands-on guidance and support during the takeover process has been invaluable to us.” |
|
