Glasgow-based plant specialists AB 2000 have been acquired by infrastructure specialists Quattro Group in a “multi-million pound” deal.
AB 2000 was established in 1995 and has a turnover of approximately £30 million.
The acquisition covers all trading divisions, namely: Ellon Plant Hire, Phoenix Weights and Phoenix Marine.
All of the existing members of staff will retain their roles with “no significant” changes to management while AB 2000’s Glasgow head office and two further regional depots will merge with Quattro’s nationwide depot network.
AB 2000 has around 450 items of plant, including mini excavators, concrete pumps and mobile cranes, which will now be added to Quattro’s fleet of around 450 machines.
AB 2000 founder Adam Bruce will remain with the organisation as an advisor and CEO Jim Houston will become the managing director
Adam Bruce said: “At AB 2000 we have worked hard to succeed by hiring high-quality, experienced people focused on providing our customers with leading-edge equipment and an outstanding customer service experience and I am confident that John Murphy and his team will continue with these core values.”
Quattro managing director John Murphy added: “Our plan is to resolutely maintain the cornerstones of what has made AB 2000 such a success and are passionate about retaining the talent and experience within the business. Watch this space, it’s going to be an exciting time North of the border.”
The acquisition has been funded by RBS, with Rix & Kay and RSM Corporate Finance acting as advisors. AB 2000 and the selling shareholders were advised by Morton Fraser.