Gambit Corporate Finance has acted as lead advisor to Genquip on its acquisition by Groundhog.
Groundhog and Genquip have worked in partnership for well over 30 years and are synonymous within the welfare sector. Together the companies are leading providers of mobile welfare units, statis welfare units, mobile toilets and portable accommodation for the hire-rental market.
Combining the speciality sales and customer service capability and blue-chip customer base and relationships of Genquip with the manufacturing facilities of Groundhog as one business will enable Groundhog to offer customers high-quality products with sustainable innovation, it said. All operations including customer service, manufacturing, spare parts, sales and training will be carried out by a team of experienced staff from the brand new Groundhog HQ in Aberdulais, South Wales.
Genquip Managing Director, Peter Beach will continue to lead the Sales and Marketing division of the combined group.
Genquip Chairman and Founder, Josh Llewellyn, commented:
“I am very pleased to see the continuation of the Genquip business now in closer partnership under the ownership and stewardship of Groundhog. Paul Ratcliffe and my late co-founder of Genquip, Dennis Hughes, created a strong partnership which led to the success of both businesses and I am sure Dennis would be as proud as I am to see the exciting opportunities that lie ahead.”
Gambit’s team was led by Frank Holmes (Partner) and Sam Forman (Partner) who oversaw deal structuring, negotiations and general product management. Gambit has a long standing and close working relationship with Genquip and Josh Llewellyn.
Frank Holmes, Partner, added:
“It is always a pleasure to work with Josh and his team and secure a successful outcome for Genquip. The relationship with Groundhog is unique and there is no acquirer better placed to take both companies to the next level. We look forward to seeing the success of Genquip and Groundhog in the future, as well as the exciting opportunities Josh is working on separately.”
