Convex advised the Shareholders of Lion Trackhire, market leading providers of temporary access solutions to the events and industrial sectors, on a sale to Ashtead Group plc, an international equipment rental company with national networks in the US, UK and Canada, trading under the name Sunbelt Rentals.
Lion Trackhire provides temporary roadways and ground protection solutions with locations in the UK, France and Germany. It had revenues in the year to the end of March 2015 of £15.4 million- up strongly on 2014, pre-tax profits were just over £3 million.
Based in Worksop, Lion Trackhire was established in 2009 by Dale Robinson and Carl Springthorpe and is the largest and most decorated portable roadway company in the world.
Ashtead acquired the entire issued share capital of Lion Trackhire Limited for a cash consideration of £22m. Including acquired debt, the total consideration was £38m.
“I collect my new Rolls Royce next Saturday. Amazing, thanks for the job you did!”
Dale Robinson, Managing Director
