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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.
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