Eve Trakway on acquisitions path
By Murray Pollok08 July 2008
LDC, part of the Lloyds TSB Group, has acquired a minority stake in the company for an undisclosed sum.
LDC said the funding would be used to "continue developing the company's products and services and ensure funding is available to acquire complementary businesses."
Eve Trakway was founded 40 years ago and in 2006 was the subject of a management buy-out from its owner, Babcock plc, led by managing director Rick Barnett and finance director Chris Lowton.
"Since the buyout we've focused on developing strong, long-term customer relationships by continuously expanding our hire fleet and creating a suite of complementary management services", said Mr Barnett, "We've now reached the stage where an acquisitional strategy is the best route to gaining the scale and expanded range of products needed to fully capitalise on the huge potential this firm has.
The business reported rental revenues of £16.5 million last year - up 27% on the previous year - and is targeting 60% growth over the next four years. It addition to its UK operation - where it employs 150 people - Eve Trakway also has partnerships with rental companies in Germany, Ireland and France to provide access systems to European locations in short delivery times.
The company is best known for supplying the 4 m high Super Fortress Fence for the Glastonbury Festival (see picture), but has supplied temporary roadways, footpaths, bridges, crowd control barriers and ground protection systems on events including Live 8, the Chelsea Flower Show and the London Marathon.
John Swarbrick, director at the Leeds office of LDC, said: "With positive dynamics in a number of its core markets and a highly professional management team, Eve Trakway is ideally positioned for growth. Demand for its services is being driven by an industrial sector which is committed to investing in infrastructure and a market for concerts, festivals and non-music events which is experiencing double digit year-on-year growth."