19 March 2008
Former Hewden Stuart and Longville Group executive Ray Ledger has led a management buy-out at Kimberley Access Ltd, one of the largest UK access rental companies.
Mr Ledger, who was most recently managing director of UK-based power, pump and temperature control rental company Longville, will become chairman of the company with Peter Pierkarus remaining in his current position as managing director. Gary Smith, Kimberley's co-founder with Mr Pierkarus, is leaving the business.
The buy-out is supported by investment funds from LDC, a mid-market private equity company that is part of the Lloyds TSB group. LDC would not say how much it is investing.
Kimberly has a fleet of 1100 aerial platforms based at depots in Doncaster, Stoke, St Helens and Bedford, and specialises in supplying the UK construction and industrial repair and maintenance market. In addition to its aerial platforms it also has a fleet of around 50 JCB telehandlers.
Ray Ledger said; “This transaction helps cement Kimberly's position in a fast-growing sector and brings on board a partner to help accelerate our growth plans, both organically and by acquisition”.
Pictured, left to right, are: Neil Meredith, partner at KPMG; Andy Lyndon, investment director at LDC; Peter Piekarus, managing director of Kimberly Access; Ian Mayland, finance director Kimberly Access; and Paul Figgins, investment director at LDC.