Selling My Construction Business

Euro Tool Hire and Sales (South West) Ltd

Euro Tool Hire and Sales (South West) Ltd has been sold to a leading southern tool hire business in a deal overseen by Adam Nelson, KBS Corporate Deal Executive.

With three depots, in Redruth, St Austell and Helston, Cornwall-based Euro Tool has been operating in the regional plant and equipment hire market for almost 30 years. 

Craig Williams, Euro Tool’s Managing Director, instructed KBS Corporate on the sale of the business as he was ready to pursue new opportunities.

Adam Nelson said: “Euro Tool benefits from long-standing customer relationships and good market access via three depots across Cornwall.

“Craig had led Euro Tool for nearly 30 years and I was delighted to assist him in finding the right buyer that can take the business forward while he enjoys the next chapter of his life.”

When marketing the business and liaising with prospective buyers, Adam was supported by Sara Fletcher, Senior Corporate Document Writer, and Drixie Espiritu, Research Analyst. 

Sara Fletcher advised: “Euro Tool was in a strong market position and generating a steady flow of revenue. Naturally, we wanted to highlight its prominent location and industry reputation, showcasing the company’s potential for expansion across South West England.” 

Whilst there was interest from both trade buyers and investors, Alliance Tool Hire submitted the successful offer and demonstrated a long-term vision for Euro Tool.

Alliance Tool Hire is pursuing growth across Southern England and Euro Tool will join the business’s eight affiliated branches, which include those in London, Salisbury and Poole. 

A statement from Alliance Tool Hire South West confirmed the three Euro Tool branches had joined their existing Cornwall operations in Truro and Penzance.

“We believe this will enable us to look after our customers brilliantly everywhere in Cornwall,” the statement said.

“The combined hire fleets have over £3m of equipment, enabling us to service almost all the tool and plant needs of our customers in Cornwall.

“Euro’s equipment fleet includes significant plant equipment from mini-diggers to larger diggers and dumpers, ensuring customers at all five branches can get what they need from us.”

Adam Nelson added: “I am delighted with the outcome of the sale. Due to the vast experience Alliance has in the sector, I believe Euro Tool will be an excellent fit.”

KJ Fasteners Ltd

Matthew Sibley, KBS Corporate Associate Director, has advised on the sale of KJ Fasteners to a Gateshead-based industrial specialist – who described the acquisition as “smooth and collaborative”.

Founded in 2006, KJ Fasteners has established itself as a regional leader in the West Midlands for quality structural solutions.

The business’s dedication to providing an exceptional standard of service has led to long-standing client relationships in numerous markets, including power transmission, structural engineering, mining and water supply.

Founders Kevin Jew and Kenneth Mole instructed KBS Corporate on the sale of KJ Fasteners to facilitate their wider retirement plans.

The successful offer for the business came from D.P. Fasteners, part of The Industrial Mandate Ltd group. D.P. Fasteners is an innovative service provider operating in the structural industry that prioritises collaboration and high-frequency communication to deliver best-in-class results.

Matthew Sibley advised: “D.P. Fasteners has a strong foothold in the North East and felt it was the right time to extend its geographical reach.

“KJ Fasteners is a company of similar size and structure that will complement D.P.’s core offering and allow the business to really accelerate its growth trajectory.”

Matt Kenny from The Industrial Mandate Ltd (TIM) commented: “We are delighted to welcome KJ into our group. With a strong heritage in specialist fastener sectors, in particular power transmission and heavy infrastructure, we are confident the business will thrive alongside TIM group subsidiaries D.P. Fasteners and North East Fasteners.

“Our thanks go to KBS for leading a smooth and collaborative process.”

Matthew Sibley added: “Kevin and Kenneth were exceptional to work with throughout the sale and remained committed to securing the right deal for both companies.

“I wish both businesses the best of luck as they grow together over the coming years.”

During the sale, KJ Fasteners was supported by solicitor Anna McGill of Keystone Law.

Clarke Banks (Group) Ltd

George Barnes, KBS Associate Corporate Director, has overseen the sale of Clarke Banks (Group) Ltd to an approved building control inspector.

Clarke Banks offers a variety of compliance solutions to the domestic and commercial construction markets, including building control approval and fire safety engineering.

The company benefits from a national network and operates from UK offices, including London, Birmingham, Cardiff and Weybridge.

Led by directors Adam Melrose and Sam Wright, Clarke Banks has established a young and dynamic management team, appealing to an increasing number of blue-chip clients.

As the building control and fire safety industries continue to evolve with new legislation, Adam and Sam were eager to explore the M&A market and find the right buyer for the next phase of development.

“Clarke Banks has some of the youngest approved inspectors in the country and the business is well-established at the forefront of a growing industry,” said George Barnes.

“The Building Safety Act 2022 is going to change operational strategies across the market, and Clarke Banks has the services, clients and scope to satisfy new requirements — particularly for large-scale commercial developments.”

Assent Building Control is the successful buyer – a business that was acquired itself by Alpina Partners in 2017 with the assistance of KBS Corporate.

Under Munich-based Alpina Partners, Assent has grown into one of the UK’s leading building control bodies.

The Yorkshire-based firm has acquired Clarke Banks as part of a long-term plan to enhance its building control and fire services portfolio.

Iain Thomson, CEO of Assent, commented on the acquisition: “We have been actively looking to expand our suite of services, so it was important to us that the business we acquired would offer benefits to both parties, not simply grow the number of surveyors we could offer.

“Sam and Adam have built an incredibly successful business that provides complementary services to those offered by our existing businesses. The enthusiasm for the work that they do is second to none and we are delighted to be welcoming them into the Assent group.”

Adam Melrose said: “We had been investigating several investment partner options, but it became clear to us that Assent aligned with our own values and bought into our future vision for the business.

“In the discussions with Iain and his team, it was obvious that the acquisition of Clarke Banks was a strategic choice that would benefit both parties and help deliver a combined service offering to clients, at what is a pivotal time in our industry.”

Sam Wright added: “The introduction of the independent Building Safety Regulator is making our whole industry look very closely at what will be required to achieve the competency levels needed.

“The recent consolidation we have seen in the sector is ultimately positive for the industry as a whole. Being part of a larger group and network will provide additional strength in the future for Clarke Banks’ team and greater resilience to support the diverse and strong client base that we have spent the last decade building.”

George Barnes believes that further consolidation in the building control and fire safety industries is to be expected over the coming years as regulators continue to realign existing legislation.

“While Clarke Banks is a great opportunity for Assent to improve its commercial exposure, it also improves the group’s position in a market with high barriers to entry,” said George.

“We’re expecting significant consolidation as legislation evolves — regulators will see the benefit of working with a smaller pool of prominent inspectors.”