We have advised Conquip, a leading UK designer, manufacturer and provider of specialist construction and infrastructure equipment and engineering solutions, on a €57.7m (£49.5m) investment from Caledonia Investments plc (Caledonia) to acquire a 61% majority stake in the business. Our combined team provided M&A, Debt Advisory and Modelling & Data Analytics support on this transaction.
Founded in 2003, Conquip has established its place in the market by supporting customers to increase productivity and efficiency and improve sustainability. The Business is trusted by customers on many complex projects through its nine regional locations. Employing approximately 250 people, Conquip serves a diversified customer base with predominant exposure to infrastructure and utilities sectors alongside housebuilding and the built environment.
The business has established a strong reputation for customer-led innovation and the provision of safety-critical products and services that increase productivity. Caledonia’s investment will enable Conquip to continue to strengthen its position as a partner of choice for customers, supporting them through excellent service and best in class products and solutions.
Conquip’s equipment rental activities and the recent acquisition of ProMech have further broadened its proposition, adding specialist engineering capabilities in more complex shoring applications. Combining this expertise with Conquip’s national depot network, established customer relationships and trusted brand creates an opportunity to serve a broader range of customer requirements and expand the combined proposition nationally.
Caledonia will partner with management to support Conquip’s continued development, including increasing penetration with existing customers, expanding geographic coverage, investing in the rental fleet, scaling its shoring proposition, developing new products and pursuing selective acquisitions.
