Wakefield-based AFI-Uplift is a leading provider of powered access machines to a range of sectors including construction and infrastructure maintenance. It also provides training and machine maintenance services.
Equistone Partners Europe invested £15m from Fund II in the merger of AFI Aerial Platforms and Uplift Platforms, hirers of powered access machines.
Since Equistone’s investment, AFI has enjoyed organic and acquisition growth. Turnover has grown from £20m to £32m in 2012 and Equistone has backed AFI in a series of bolt-on acquisitions to increase its UK footprint and service offering.
Equistone worked alongside the management team to grow the business by:
- Increasing AFI’s customer base and tightening operational efficiency in areas such as transport costs.
- The acquisition of AJ Rentals in July 2011.
- The successful growth of its safety training courses in UK.
- Increasing AFI’s commercialised resale operation.
Equistone sold AFI to Rutland Partners in a transaction that involved the simultaneous acquisition of two smaller businesses at a total deal value of £85m.
AFI has expanded in the UK, opening several new depots and making strategic bolt-on acquisitions that mean it is now one of the leading players in the market and is well positioned for further growth.