Leading Bristol based scaffolding company, Scaffteq West Limited was recently sold to the Safe Rise Scaffolding Group, with the aim of growing Scaffteq’s services to clients in Bristol and the wider West Country.
Scaffteq West is the largest provider of scaffolding services to the house building market in Bristol and the West Country serving a strong blue-chip client base of residential house building construction companies.
Adèle McLay, Director of Safe Rise Scaffolding Group led the transaction for the acquirer drawing on her significant business advisory, accountancy and investment banking experience. Adèle’s business partner and husband, David Hayde, also a Director of Safe Rise Scaffolding Group was involved with the acquisition, drawing on his significant commercial construction projects experience and expertise in corporate finance and management consulting as a former Partner, KPMG in New Zealand.
Adèle from Safe Rise Scaffolding Group commented, “We are thrilled to have acquired Scaffteq West. It has a proud history of serving leading construction companies in Bristol and the wider West Country area, and we look forward to continuing to provide excellence in scaffolding services to our existing and new clients, building on the phenomenal success the company has enjoyed to date under the ownership of Nigel Harris.”
Nigel Harris, Scaffteq West’s Founder will remain as Chief Executive with Scaffteq West. Nigel said, “I am really pleased to have sold the company to the Safe Rise Scaffolding Group, as this gives us the ability to further grow Scaffteq in the local market, the West Country and Wales. We will also be able to draw on the expertise of Safe Rise Scaffolding’s member companies to develop the services we offer in our region, including providing scaffolding for the commercial market. I am very excited about all the new opportunities the sale has provided us.”
Primary Asset Finance acted as lead finance broker to Safe Rise Scaffolding Group in its acquisition of Scaffteq West Limited. Phil Betts, Managing Director at Primary Asset Finance said: “Primary Asset Finance was very pleased to have facilitated the acquisition of Scaffteq West by the Safe Rise Scaffolding Group, and we wish the new owners and Nigel Harris tremendous success”.
Safe Rise Scaffolding Group was also advised by Stephanie Kleyman and Nick McEwen at Kleyman & Co. Solicitors.
The vendor was advised by Clive Farquhar of Farquhar Partnership Chartered Accountants and Ros Miller of Keystone Law.
This sale offers some good news for the house building and commercial construction market in Bristol and the West Country, and is a thumbs up for the construction sector.