11 Mar 2019
Investec advises Quick Reach on minority sale to Mercia
The deal adds to Investec’s growing book of clients in the North of England, supporting ambitious businesses in their growth
Investec Bank plc (“Investec”) has advised Quick Reach Powered Access (“Quick Reach”), the North West based powered access rental company, on a minority sale to Mercia Fund Managers (“Mercia”). The £4.5m investment by Mercia will provide additional funding to help the company to power its impressive growth trajectory and increase its presence across the UK.
Founded in 2014 by brothers David and John Barton, Quick Reach is a fast-growing powered access rental business, specialising in equipment hire to blue chip corporate customers throughout the UK. Quick Reach now employs 36 staff, and the investment will allow the company to double its fleet of powered access equipment.
Investec has been working with Quick Reach since 2014, and was recently tasked with sourcing and securing growth funding for the Company and also value realisation for its shareholders, whilst allowing them to fully deliver their growth ambitions. The deal builds on Investec’s growing presence and commitment to the North of England.
Dan Sheahan, Head of Corporate Finance for the North of England at Investec, commented:
“We are proud to have supported Quick Reach through this transaction, helping the founding team to secure growth funding to continue the business’s national expansion plan and cement its position as a truly nationwide operator.”
Investec advised Quick Reach on the transaction, while Schofield Sweeney LLP acted as legal advisor to Quick Reach.
For more information, please contact:
Fatima Ismat, Lansons (PR agency for Investec CIB) - 020 7566 9709
Luke O’Mahony, Investec (Public Relations) - 020 7597 5261
Investec Corporate and Investment Banking
Investec CIB is an international corporate and investment bank working with growth-orientated companies, institutions and private equity funds. Our people set us apart – empowered, straightforward and invested in our clients’ long-term success. We provide capital solutions, advice and ideas, along with bespoke investment solutions and access to capital markets. Founded in 1974, The Investec Group has grown successfully through its client focussed approach and its ability to serve diverse and evolving financial needs.
This press release is issued on behalf of Investec Bank plc. Registered address: 30 Gresham Street, London, EC2V 7QP. (Reg No. 489604). Investec Corporate and Investment Banking is a brand name of Investec Bank plc, which is a member of the London Stock Exchange.
Investec Bank plc (Reg. no. 489604) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.