Benchmark International is pleased to announce the transaction between Gillingham-based Rainham and London-based REL Capital.
Rainham is a coach and minibus hire company, operating several contracts alongside private hire and tour work. It has a modern fleet of vehicles and two sites in Gillingham.
REL Capital is a UK private investment company that purchases, invests, and operates a number of businesses across a variety of sectors.
Post-sale, Rainham will be operated by REL Redwing, which REL Capital took over in February 2022.
Representing a retirement sale for former owners, the Graham family, the Rainham business will be led by Tom Maidman, director of REL Redwing, and his team.
Mr. Maidman said: “We thank David Graham and his family for all their hard work over the last 25 years, wish them well in their retirement, and look forward to welcoming the Rainham team and drivers to REL Redwing, which is located 20 minutes from our existing Gravesend Depot in Kent.”
This year, REL Capital has changed its investment focus from distressed purchases to retirement purchases and are actively seeking other similar opportunities, having agreed terms for a new £4m funding facility.
Andy Scott, REL Capital chairman, said: “With all of our investments in the coach sector now profitable, we are keen to continue our model of bolting on new businesses onto our existing operators, whilst also speaking to larger operators for stand-alone opportunities.”
The Rainham deal marks the eighth acquisition in the coach sector over the last three years by REL Capital.
Europe: Michael Lawrie at +44 (0) 161 359 4400 / Lawrie@BenchmarkIntl.com
Americas: Sam Smoot at +1 (813) 898 2350 / Smoot@BenchmarkIntl.com
Africa: Anthony McCardle at +27 21 300 2055 / McCardle@BenchmarkIntl.com
ABOUT BENCHMARK INTERNATIONAL:
Benchmark International is a global M&A firm that provides business owners with creative, value-maximizing solutions for growing and exiting their businesses. Benchmark International has handled over $10 billion in transaction value across various industries from offices across the world. With decades of M&A experience, Benchmark International’s transaction teams have assisted business owners with achieving their objectives and ensuring the continued growth of their businesses. The firm has also been named the Investment Banking Firm of the Year by The M&A Advisor and the Global M&A Network as well as the #1 Sell-side Exclusive M&A Advisor in the World by Pitchbook’s Global League Tables.