03.10.2007

What now for Wraith?

David Wraith, the man who with Garry Smith founded Nationwide Access Platforms in the mid 1980’s has ended his involvement with his trading business following the merger of his Wraith Accommodation with the Elliot group in April this year.

More recently he has helped form a new company with the name Access Hire Nationwide with himself and John Wood of Aquarius leasing as directors.
The word is that Wraith is all set to complete an acquisition of Aquarius, one of the UK’s largest van mounted rental companies, from its shareholders. Aquarius is owned by the Grindley and Kelly families along with the senior managers.
Director David Grindley and Linda Grindley own a controlling 51 percent of the business.

Wraith sold Nationwide Access to a Management Buy In by David Price supported by Cinven in 1992 which became the Lavendon group. Since then of course Lavendon has gone on to become the worlds largest specialist powered access rental company.

We tried to reach David Wraith who is now 61 for comment but have yet to succeed.

Vertikal Comment

This is an interesting move for Wraith, a serial entrepreneur who has built and sold at least three temporary accommodation rental companies over the past 20 years or so.

If the Aquarius acquisition goes ahead He will of course go head to head with the Lavendon group which recently acquired the UK’s largest van mounted rental company Rise Hire.

As such it is an interesting choice of names which is sure to raise the odd eyebrow.

Watch this space