The industrial products team at Transcend Corporate, led by Ian Curtis, has advised PPS Equipment Holdings Limited on the acquisition of Alison Handling Services Limited (“AHS”).
Transcend Corporate assisted in both negotiating terms with AHS and introducing BGF who provided PPS £4.9m to fund the acquisition.
PPS is a provider of returnable transit packaging and container solutions to retailers, food processors and the automotive industry. The group currently operates from East Staffordshire and Grimsby, the number of sites increasing to include AHS in Lancashire.
PPS currently provides customers with the delivery, collection, asset tracking, hygienic washing, rental and repair of the equipment, as well as being cost effective and environmentally friendly alternative to cardboard and polystyrene single use packaging.
AHS is Europe’s largest independent stockist of new and used plastic boxes, containers, and pallets in the UK.
The combination will expand the range of products and services offered to customers, whilst also increasing the group’s geographical footprint.
David Peggie, Chief Executive of PPS, said: “We’ve admired the services and reputation of AHS for many years. Now, as Tony Dearden looks to retire from the company he set up, we are proud to be able to take on the exceptional services and impressive customer base AHS has created.”
“Transcend Corporate was an enormous help in delivering the key acquisition of AHS for us; their creativity in offering alternative funding solutions to deliver the successful deal for us was outstanding.”
PPS has developed rapidly over the past thirteen years and this deal and the significant expansion of its site in Grimsby, is the next step in the plan to bring an all-encompassing, top quality service to those looking for re-usable packaging.”
Ian Curtis, Director of Transcend Corporate, said: “We believe that BGF is the ideal partner for the PPS Group as it expands quickly, both via organic growth and the AHS acquisition, placing the group in a strong position for further expansion.”