Blakedale, a family business based in Buckshaw Village, Chorley, has been sold to Northgate Vehicle Hire, a division of integrated mobility solutions provider Redde Northgate plc.
Blakedale was established 30 years ago and is today the largest privately-owned traffic management company in the UK, with its vehicles supplied to motorway contractors working in both motorway and urban environments.
Based in 72 locations across the UK, Northgate Vehicle Hire has become the largest provider of business-to-business light commercial vehicle hire and mobility solutions in the UK.
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Its parent company Redde Northgate plc is listed on the London Stock Exchange and is part of the FTSE 250 index.
The acquisition will support Northgate’s long-term growth plans to increase its share of the traffic management industry and strengthen its leading position in the supply of commercial vehicles for short and long-term rental.
Co-CEO and Blakedale family shareholder Carmen Bowley will initially remain on board to ensure a smooth transition process and Blakedale will be run as a separate division, with Northgate retaining its premises and staff in Chorley.
Carmen Bowley said: “We are very proud of what Blakedale has accomplished over the past 40 years. It is a modern company with excellent facilities that is at the forefront of a rapidly changing industry. We are delighted to be part of the Redde Northgate family to support the long term growth of the business.
The deal was advised by audit, tax and advisory firm RSM, whose team was led by corporate finance partners Nick Wyatt and John Gillibrand, with support from Davin Kandola and Aaron Bhatti.
Nick Wyatt, corporate finance partner at RSM UK, said: “At a time when the UK government is committed to long-term investment in road infrastructure up to 2050, this strategic transaction will see two companies closely aligned to continue to provide market-leading service. to their customers in the traffic management industry.
“This partnership will support Blakedale’s growth aspirations while strengthening Redde Northgate’s presence in the traffic management industry.”
Martin Ward, CEO of Redde Northgate PLC, said: “We are extremely pleased to have Blakedale part of our extended group.
“It is an excellent company with specialist vehicle leasing and construction capability that will provide a wider range of essential services to our premium customers.
“It’s a perfect complement to our Northgate Vehicle Hire business which already operates in the traffic management business.”