Scottish crane and equipment rental company AB 2000 has been acquired by the Quattro Group, a leading UK Road Rail equipment rental group.
Founded in 1995, AB 2000 is one of Scotland’s largest privately owned suppliers of operated equipment, and includes Ellon Plant Hire, Phoenix Weights and Phoenix Marine, with annual revenues in the region of £30 million. The fleet which includes mobile cranes and concrete pumps runs to around 450 units.
Following completion of the deal, AB 2000’s Glasgow head office and two further regional depots will merge into Quattro’s existing depot network, with all staff retained in their current roles with no significant changes to key management planned. AB 2000 founder Adam Bruce will remain as an advisor, while AB 2000’s chief executive Jim Houston, will become managing director.
Quattro managing director John Murphy said: “We are delighted to welcome the AB 2000 team to the Quattro Group family and are sure that moving forward this venture will help us all to continue delivering the fantastic service that both the AB 2000 and Quattro Group teams are known for, whilst forging forwards together.”
“The AB 2000 team, led by Adam Bruce, has worked tirelessly to grow a great business centred on providing vital services to the Scottish market. This customer service focus and high level of delivery sits perfectly in line with the Quattro Group ethos, and we felt that this deal would provide a natural partnership. ‘Our plan is to resolutely maintain the cornerstones of what has made AB 2000 such a success and are passionate about retaining the talent and experience within the business. Watch this space, it’s going to be an exciting time North of the border”
AB 2000’s Adam Bruce added: “At AB 2000 we have worked hard to succeed by hiring high quality, experienced people focused on providing our customers with leading-edge equipment and an outstanding customer service experience and I am confident that John Murphy and his team will continue with these core values. I would like to say thank you to the employees of AB 2000, our customers, our suppliers and other partners who have helped us succeed over the decades.”
The acquisition was funded by RBS, with Rix & Kay and RSM Corporate Finance acting as advisors.