Lincoln-based Translinc - a specialist provider of specialist vehicles - has been sold to listed support services group, May Gurney plc for a consideration of £65m.
Matt Waddell, head of corporate finance for PwC in the Midlands, said: “Having acted for RJD on the original acquisition in 2007 we are delighted to have acted for RJD and the management shareholders on this sale to a strategic trade acquiror. Translinc is a clear market leader in its field and with the support of a larger support services player will now be ideally positioned to benefit from the opportunities its rapidly developing market is creating”
Alex Hay, partner at RJD, added: “We are delighted to have worked with Paul Wood, David Foulds and a really high quality team at Translinc. With RJD’s support the team have built Translinc into a clear market leader in its field and therefore a strategic and compelling acquisition for May Gurney. This transaction represents a highly successful exit for RJD and our funds”
The vendors were advised by Eversheds and PwC.
This is PwC’s third private equity disposal in the Midlands in six weeks following the sale of EDM and Taylor Continental.