Jan 19, 2021
Lexington Corporate Finance (“Lexington”) is pleased to announce that it has acted as the Corporate Finance Advisor to the shareholders of Parker Plant Hire (“Parker”), one of South Wales leading plant hire specialists, on its sale during the course of December 2020 to Rentacabin Limited (“Rentacabin”).
Parker, based in Llanelli, has one of the largest hire fleets in the region and specialises in Heavy Plant Hire and Accommodation units. The Company was founded by the Parker family in 1980 and has grown to service a wide range of customers across Wales and the South West in key sectors including Construction, Rail, Leisure, Events, Environmental, Public and Private
Lexington CF acted as the lead adviser and introduced the opportunity to a number of prospective acquirers and Rentacabin emerged as the preferred acquiror. The Lexington team was led by Thomas Edwards and Pablo Shorney who negotiated terms and managed the process through to a successful completion.
Thomas Edwards, Director, said “We are delighted to have acted for the Shareholders. The result is testament to the hard work they have put in over the years to build the business up to be one of the leading plant hire companies across Wales.”
Barry Williams, Managing Director, who will remain with Parker after the sale said, “Huge thanks to the Lexington team for all their hard work and perseverance on this sale process against the backdrop of the challenging economic conditions brought about by COVID during 2020. This deal represents another significant milestone in the successful history of Parker and we are excited for the future under the new ownership of Rentacabin.”