Rutland Partners is pleased to announce that on 31 May 2013 it agreed and completed the simultaneous acquisitions of AFI-Uplift in the UK, Access Rental Gulf in the Middle East and Hi-Reach in the UK, for a combined enterprise value of circa £85 million.
AFI-Uplift (“AFI”), owned by its management team and Equistone, is a leading provider of powered access equipment rental with 3,700 machines operating from 18 depots across the UK. AFI also provides complementary services including the provision of safety related training and the resale of ex fleet and third party sourced machines. Access Rental Gulf (“ARG”), based in the United Arab Emirates, is owned by its management team and is a leading powered access equipment rental business in the Middle East with a fleet of 400 machines. Hi-Reach is a privately owned, UK based powered access equipment rental business with eight depots and a rental fleet of 1,500 machines.