Glasgow-based concrete mixer manufacturer to become part of private equity firm’s Total Vehicle Solutions Group
UK-focused private equity firm Elaghmore Partners LLP have acquired McPhee Bros (Blantyre) Ltd, designers and manufacturers of truck-mounted concrete mixer units (known as McPhee Mixers), for an undisclosed multi-million-pound sum.
Founded in 1971, McPhee Mixers are well established as one of the UK’s leading suppliers of mixers to the construction and quarrying industry.
The company, which designs, manufactures and supplies mixers from its headquarters in Blantyre, Glasgow, has long been recognized as an industry innovator, continually introducing new safety features.
As well as designing and manufacturing mixer units, McPhee Mixers also service and repair them from a specialist site in Chesterfield, Derbyshire.
Elaghmore will provide financial backing to support the growth plans of McPhee Mixers, which include expanding the existing sites to help deliver a growing order book, new product development, the addition of sales and marketing capability, and geographic expansion.
The company, which employs 70 people, will continue to operate autonomously but will become part of Elaghmore’s Total Vehicle Solutions (TVS) Group, which includes other Elaghmore acquisitions, including SB Components and Priden Engineering.
As part of the TVS Group, the companies can cross-sell products to the combined customer list, share facilities across the UK to broaden their reach, and share best practice and technical expertise.
The Group, which has annualized revenues of £50 million and operates across four sites in the UK, also has plans to expand internationally.
Andy Ducker, founding partner at Elaghmore, said: ‘McPhee Mixers is a strong, profitable company with a growing order book, a track record of innovation and long-term relationships with some of the biggest names in the UK construction industry.
‘It is a valuable addition to our Total Vehicle Solutions Group and expands its capability to offer even more products to its industrial client base from a growing number of sites across the UK.
‘We are excited about working with the management team at McPhee Mixers to build on their success, including growing their existing sites, developing new products and securing a foothold in other geographies to exploit their intellectual property.’
Commenting on the transaction, Brinsley McFarlane (pictured), managing director, McPhee Mixers, said: ‘McPhee Mixers have a long and enviable record of success within the engineering industry, and we have ambitious plans for the future. Working with Elaghmore will help us deliver these, which is demonstrated by their track record in backing companies such as SB Components.
‘It is an exciting day for our skilled and dedicated workforce, as well as our customers, as we look to build on our success so far as part of the TVS Group.’