Asset Finance Case Study

Green Light for Traffic Management Company

Acklea is one of the UK’s leading traffic management equipment suppliers, producing the signs and vehicles that are used at road works or accidents on the UK’s motorway network. As specialists in traffic management vehicle production and hire, their products include the LED sign boards used in mobile lane closure vehicles as well as the vehicles used to direct traffic using cones. Acklea is based in Calne, Wiltshire and makes or modifies vehicles bespoke to customer requirements with the addition of lighting boards, signage and crash cushions.

Funding Facilitation

We faced numerous challenges, not least the difficult environment for doing corporate deals. Had it not been for NGI Finance facilitating the funding, the deal might never have been brought to a successful close.”

Peter O’Connell, Shaw Gibbs

Local Collaboration

In a recent transaction, terms of which remain undisclosed, the Corporate Finance team at Shaw Gibbs have assisted local businessman Martin Potter to acquire a controlling stake in Acklea Limited. Funding for the deal was secured by Chris Morris of NGI Finance in conjunction with Close Asset Finance and legal advice to Mr Potter was provided by Nicola McConville at Blake Lapthorn in Oxford.

Management Buy-In

Martin Potter has a background of over 20 years in the specialist vehicle industry in the infrastructure maintenance arena. His historic senior responsibilities have been in strategic business development, vehicle procurement, remarketing, maintenance and service delivery. The previous owner wanted to take more of a back seat in the running of the business and believed that Martin was the person to take the business on to the next level of development even though he will remain involved to spearhead the Company’s research & development.

Specialist Transition

A significant amount of money needed to be raised from the existing assets of the business but high street lenders are cautious because effectively the organisation is a new start business once the new owner is in situ, added to which in this case the assets were very specialist. Despite making the right noises, the high street lenders eventually came up with nothing.

Asset Lender

NGI Finance was able to find an asset lender who understands this type of business transaction intimately. NGI arranged for senior personnel from the lender to meet with Shaw Gibbs and Martin Potter to discuss the terms. After months of negotiation, the deal was completed in December 2011 and Martin took over Acklea.

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