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Equipment hire company advised on £4.5m deal

A team led by Steven Millward advised Quick Reach Powered Access, a fast-growing national equipment hire business, on its £4.5m equity investment from Mercia Fund Managers.

The investment, which is the second from Mercia’s £45.1m EV Growth II fund, will allow the Manchester-based company to double its fleet of powered access equipment and continue its nationwide growth.

Founded in 2014 by brothers John and David Barton, who have a background in the equipment hire industry, Quick Reach now has depots in Manchester, Birmingham, Doncaster, East London and Wishaw in Scotland, and a fleet of more than 1,000 units.

The company, which now employs 36 staff, has grown rapidly, achieving average annual sales growth of 77% over the past three years. The deal will give Mercia a minority stake in the business and provide investment for growth.

 

The Company received advice on a range of matters with assistance from Jessica Fielden(Corporate), Lucy Holroyd (Corporate), John Feaster (Tax) and Pardeep Khela (Commercial Property).

 

If you would like any advice on how to grow your business, contact the team at law@schofieldsweeney.co.uk

 

 

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Steven Millward

Partner

Steven advises on all aspects of corporate/commercial law acting for a wide range of clients…

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