Kelsey’s fair Exchange
8 June 2021
Kelsey Plant Hire of Horsham has been acquired by the FTH Hire Group, bringing to seven the Farnborough-based company’s depot network.
The deal was handled by The Hire Exchange, which claims to be the only business sales advisory to specialise in the tool, equipment and plant hire sector. Partners have many years’ experience in buying, selling and operating hire businesses.
Kelsey Plant Hire, which specialises in compact plant and also offers a specialist range of eco-friendly diggers, dumpers and other machinery, was established in 1994 by Nadine Clark and her ex-husband.
“I had decided some years ago that the time was right to retire,” Nadine (pictured) tells me. “I actually thought I had found a buyer but they pulled out at the last minute because of Brexit uncertainties. That was a massive disappointment.
“I really wanted to make sure that everyone kept their jobs and that as little would change as possible for the seven people in the team.”
Last summer, Nadine saw details of The Hire Exchange on social media and their aim of making such transactions as smooth as possible struck a chord.
“I met with them and one of the questions they asked was if there were any companies I wouldn’t want to sell the business to, and I did have a small list. However, one of the companies that I did like was FTH. I knew they had similar values and I appreciated the way they did things, having re-hired from them in the past.”
Chris Harvey, a co-founder of The Hire Exchange, said: “Having determined the value and virtues of the business, in this case its location, performance and fleet, we prepared a comprehensive Information Memorandum (IM). This 24-page document is the key selling tool that presents the business case and gives buyers the information we know they need to make an informed decision.
“Having identified and engaged with a number of potential buyers, it became clear that the FTH Group had the resources, commitment and culture to take the business to the next level. They were the perfect fit.”
The aim was to maximise the opportunities for each party and to safeguard the future of Kelsey’s existing staff.
“From there we were closely involved in ‘facilitating’ the sale throughout the process, including introducing Nadine to City lawyers Hill Dickinson, and the deal was done to the satisfaction of all,” continued Chris.
Nadine is confident that she has left the business in good hands and safeguarded the future of employees.
“It removes any uncertainty about their future if anything were to have happened to me,” she says. “And one member of staff came to me a few days after the announcement and said they found it all quite exciting.”
● Another deal that has been brokered recently by The Hire Exchange is the acquisition of the specialist mobile site accommodation specialist, Welfare4Hire, by AER Rents.