13.09.2007

Ainscough rumours build

Local newspapers report that deal is close on an Ainscough buyout.

Manchester newspapers have been reporting that the Bank of Scotland is top contender to fund a deal for the purchase of Ainscough crane hire from the Ainscough family.

Ainscough appointed advisors to look at its future ownership back in February, See Ainscough to float? When Martin Ainscough said that it would look at all options including an IPO or a private sale.

Estimates of the likely value such a deal would be worth run from £200 to £300 million.

Rumours have been rife for months over a possible deal but Ainscough has consistently declined to comment on how its strategic review is progressing. The most persistent rumours over the past four months have concerned a possible Management Buy-Out led by finance director Neil Partridge.

When asked Ainscough naturally declines to comment on such talk, simply stating that no deal has been agreed and that it is still considering its options. So watch this space. Perhaps a Vertikal Days announcement would be appropriate?

Vertikal Comment

We continuously receive supposed tip-offs that the Ainscoughs have concluded a deal for the company. So far they have all been premature and based more on conjecture and chatter than fact.

With newspapers such as the Manchester Evening News now reporting that a deal is close and yet unable to draw quotes from the Ainscough management team, it suggests that an analyst or two is allowing information to slip out?

It is true that a Management Buy Out would seem to be the most logical solution for Martin, Brendan and James Ainscough. Such a deal could be structured in many different ways. Neil Partridge would also be a natural leader for such a buy-out having joined the company from Vibroplant 12 years ago and helped manage it through a series of major acquisitions.

He would certainly be in a position to reassure and give confidence to a funder such as the Bank of Scotland.

When a deal is finally done you can be sure that we will report the full details.
Watch this space!