Arrowpoint Advisory guides Force One through sale to Readypower
M&A specialist Arrowpoint Advisory has completed one of its deal mandates in the industrial services scene, having guided Force One through its sale to Readypower Group.
Established in 2004, Force One is a company specialised in safe-dig suction excavation services. From its headquarters in March, Cambridgeshire, the business serves a range of blue-chip clients across several regulated infrastructure end-markets, including rail, highways, airports and energy.
With the demand for suction excavation growing, Force One enjoyed interest from a number of potential buyers. Working with M&A consultants from Arrowpoint Advisory, the company has now struck a deal with Readypower Group, a larger counterpart that provides plant and equipment leasing services to the construction and railway industries.
A wholly owned subsidiary of Angel Trains, one of the UK’s leading train asset management companies, Readypower Group operates from six major hubs and several satellite facilities across England, Scotland and Wales.
The acquisition marks Readypower Group’s entry into the market of suction excavation. “This is an exciting new chapter for Readypower, and meets the growing demand for excavations involving buried infrastructure,” said Malcolm Brown, CEO of Angel Trains and Chairman of Readypower Group.
Russell Jack, CEO of Readypower Group, added, “Force One is a business that we have greatly admired over the last few years. We are delighted to welcome them to our team.”
Meanwhile, for Force One, the joining of forces will enable the company to “drive forward its suction excavation business to new and greater heights,” said Declan Burke, Managing Director of Force One.
Also known as a vacuum excavator, suction excavation is a process that removes heavy debris or other materials from a hole on land by using vacuum pressure. The method is seen as a great alternative to conventional digging because it enables precise excavation, with minimal damage to surrounding assets.
According to Harsha Wickremasinghe, Head of Business Intelligence at Arrowpoint Advisory, Force One has over the years built “an outstanding market reputation for not only delivering best-in-class service but also setting the standard for safety and reliability in the sector.”
Tom Smith, a Director at Arrowpoint Advisory and a member of the deal team, added that the combination of Readypower Group and Force One will better position the pair for further growth in the segment. “The specialist hire sector is one that is primed for further growth alongside record infrastructure commitment. There is a strong mutual belief that they can deliver on that potential.”
Reflecting on the collaboration with the M&A consultancy, Burke said, “The Arrowpoint Advisory team has been exemplary, providing invaluable support throughout this transaction. They took the time to guide us through the entire process and navigated the inevitable ups-and-downs with a level-headed attitude. They also proved to be astute negotiators and worked tirelessly to deliver an exceptional outcome for everyone involved.”
Headquartered in London, Arrowpoint Advisory is the dedicated mid-market team of investment bank Rothschild in the UK. The firm ranks as one of the UK’s leading M&A consulting firms.
