07.07.2008

Buy-In at EVE

LDC-Lloyds TSB Development Capital has taken a minority stake in Eve Trakway, the supplier of temporary roadways used by cranes and large aerial lifts to cross soft ground.

The deal, which was led by John Swarbrick and Alex Bowden from LDC’s Yorkshire office, will provide the capital required to develop the company’s products and services as well as funding acquisitions.

Founded 40 years ago, Eve was the subject of a management buyout from Babcock in 2006 led by managing director Rick Barnett and finance director Chris Lowton.


Barnett said: “Since the buyout we’ve focused on developing strong, long-term customer relationships by continuously expanding our hire fleet and creating a suite of complementary management services.”

“We’ve now reached the stage where an acquisitional strategy is the best route to gaining the scale and expanded range of products needed to fully capitalise on the huge potential this firm has.”

“We were keen to partner with LDC as, in addition to providing funding, their relationship-based approach will ensure we can draw on their experience and track record of successfully building businesses through acquisitions and simultaneous organic expansion.”