Lancashire motorway management vehicles firm changes hands
A Lancashire supplier of traffic management vehicles has been sold to a national firm for an undisclosed sum.
Blakedale was established 30 years ago and is now the UK’s largest privately owned traffic management company, with its vehicles supplied to highways contractors working across both motorway and urban environments.
Based in 72 locations across the UK, Northgate Vehicle Hire has grown to be the UK’s largest business-to-business light commercial vehicle rental and mobility solutions provider.
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It’s parent company Redde Northgate plc is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
The acquisition will support Northgate’s long-term growth plans to increase its share of the traffic management sector and strengthen its position as a leader in the supply of commercial vehicles on short and long-term rental.
Blakedale’s joint managing director and family shareholder Carmen Bowley will initially remain on board to ensure a smooth transition process and Blakedale will be run as a separate division with Northgate retaining its Chorley premises and people.
Carmen Bowley said: “We are very proud of what Blakedale has achieved over the past 40 years. It is a modern business with excellent facilities that is at the forefront of a fast-moving industry. We are pleased to become part of the Redde Northgate family to support the long-term growth of the business.”
The deal was advised on by audit, tax and consulting firm RSM, whose team was led by corporate finance partners Nick Wyatt and John Gillibrand, with support from Davin Kandola and Aaron Bhatti.
Nick Wyatt, corporate finance partner at RSM UK, said: “At a time when the UK government has pledged long-term investment into road infrastructure until 2050, this strategic transaction will enable two closely aligned businesses to continue to provide a market-leading service to their customers in the traffic management sector.
"This partnership will support Blakedale’s growth aspirations whilst strengthening Redde Northgate’s presence in the traffic management sector.”
Martin Ward, CEO of Redde Northgate PLC, said: "We are extremely excited that Blakedale will become part of our wider group.
"It’s a great business with both rental and specialist vehicle build capability that will provide a wider range of essential services to our blue-chip clients.
"It’s a perfect fit with our Northgate Vehicle Hire business which already operates in the traffic management sector.”