18.02.2008

Cranes and access in the charts

AFI, the UK based access rental company has made it into the Sunday Times Top 100 list of private equity companies with the fastest growing profits, for the second successive year. The company was placed 42nd, not quite as strong as last years fifth position but still well up the pack.

In the two years to December 2006, AFI’s latest audited financial year, the company’s profits rose 53.38 percent a year, from £3.526 million in 2004 to £8.294 million in 2006. Profits are defined as earnings before interest, tax, depreciation and amortisation (EBITDA).

In September 2006 the company merged with Uplift Power Platforms in a deal backed by Barclays Private Equity. This was followed by two acquisitions in 2007 of North East Access and Central Access.

AFI-Uplift director Nick Selley said: “We are delighted to have achieved this Sunday Times listing for two consecutive years. It is recognition of a company performance that is based around teamwork and high levels of customer service.”

Two crane hire groups also made it into the chart, the Specialist Hire Group, which owns Marsden and Jardine Crane Hire was placed at number 62 with 38.47 percent growth and profits of £3.7 million. While Ainscough Crane Hire, now a private equity funded company, was in 85th place with 29.08 percent growth and latest profits of £30.6 million.

Energy Cranes, the offshore services company also made it into the chart at number 74 with 32.83 percent growth and just over £9 million in profits.

The Sunday Times Deloitte Buyout Track 100 league table features private equity-backed mid-market companies with the fastest growing profits over the latest two years.