Benchmark International has successfully facilitated the transaction between McPhee Bros (Blantyre) (trading as McPhee Mixers) to Elaghmore for an undisclosed multi-million pound sum.
McPhee Mixers was established in 1971 and has developed since then to manufacture and supply its own brand of truck mounted concrete mixers for the construction and quarrying industry, as well as provide a servicing and repair facility.
The company provides its large multinational customer base with a unique product range, tailored to their requirements and, as a result, has been recognised as an industry innovator with a range of patents covering its products.
The company has a robust infrastructure, with a 70 strong team and premises in two locations, comprising a manufacturing plant in Blantyre and a service and repair centre in Chesterfield. As no other UK concrete mixer manufacturer has more than one location, this uniquely places the company in servicing its high profile customer base throughout the UK.
Elaghmore, a UK-focused private equity firm with a strong track record of investing in and successfully growing businesses, will provide financial backing to support the growth plans of McPhee Mixers which include expanding the existing sites to help deliver a growing order book, new product development, the addition of sales and marketing capability and geographic expansion to capitalise on the company’s intellectual property.
Elaghmore has previously sought acquisitions in a similar field, which have cumulated to build its Total Vehicle Solutions (TVS) Group, which McPhee Mixers, while operating autonomously, will become a part of allowing the companies to cross-sell products to the combined customer list and share best practice and technical expertise.
Brinsley McFarlane, Managing Director of McPhee Mixers, commented: "McPhee Mixers has a long and enviable record of success within the engineering industry, and we have ambitious plans for the future.
Working with Elaghmore will help us deliver these, which is demonstrated by their track record in backing companies.
It is an exciting day for our skilled and dedicated workforce as well as our customers as we look to build on our success so far as part of the TVS Group."
Andy Ducker, founding partner at Elaghmore, said: "McPhee Mixers is a strong, profitable company with a growing order book, a track record of innovation and long-term relationships with some of the biggest names in the UK construction industry.
It is a valuable addition to our Total Vehicle Solutions Group and expands its capability to offer even more products to its industrial client base from a growing number of sites across the UK.
We are excited about working with the management team at McPhee Mixers to build on their success including growing its existing sites, developing new products and securing a foothold in other geographies to exploit its intellectual property."
On behalf of everyone at Benchmark International, we would like to wish both parties every success for the future.
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