HMT acted as reporting accountants to Barclays Ventures in the management buyout of Rollalong Hire Ltd (“RHL”) for £10 million.
RHL’s business was established in 1968 and now operates from eight regional hire centres across the country. In 2001, to complement its traditional hire business, which supplies accommodation units to the construction, education and local authority sectors, RHL established its event hire business. In recent years, the events division has contributed to RHL’s growth, supplying high-profile events such as Wimbledon, the London Marathon and the Notting Hill Carnival.
RHL was bought from the Newman family by its management team. Neil Hickton, RHL’s Managing Director, has been key to the development of the business in recent years, and the introduction of John Brown, ex-CEO of Speedy Hire, as Chairman will bring a great deal of high profile company experience to the management team.
Andrew Thomson of HMT commented:
“This is a great transaction for Barclays Ventures. RHL is a well-run, cash-generative operation with a modern fleet. Barclays Ventures have introduced a Chairman which will strengthen the management team and allow the company to take advantage of the growing market for portable accommodation.”