Bluebox advises on sale of TXM Plant

Bluebox Corporate Finance is delighted to announce the sale of TXM Plant Limited (TXM Plant), the UK’s market-leader in specialised plant hire to the rail market to a Management Buy Out (MBO) team led by Managing Director Gareth Richardson and backed by Lloyds Development Capital (LDC) – the private equity division of Lloyds Bank PLC. Pricing and other deal terms are not disclosed. In the current financial year, TXM Plant, which has assets in excess of £45m, will deliver revenues of c.£60m.

TXM hires Road Rail Vehicles ‘RRVs’, complex attachments and associated labour to almost all of the major Tier 1 contractors working on the UK’s rail infrastructure. They are a critical element in the Network Rail supply chain and operate in a highly regulated market. With an unwavering focus on safety, compliance and quality of service, TXM are the only player with true nationwide coverage operating from nine strategically located depots across the UK. Led by Managing Director Gareth Richardson, TXM has grown steadily and enjoys a wealth of experience across its senior management team and is well positioned to take advantage of numerous development opportunities that are now presenting themselves.

Laurence Seward, Principal shareholder of TXM and CEO of the Milton Keynes-based TXM Group commented: “We are delighted with the services that Bluebox was able to offer. They showed an intimate knowledge of a deal cycle, managed a tight auction process and were highly communicative from the start. I would happily recommend Paul and his team to business owners contemplating a sale of their business in the next 24 months. Experience is key and this has paid off for us.”

Paul Herman, Director at Bluebox added: “TXM is a great example of how Bluebox can provide value to our clients through pre-sale planning and up until the point of exit itself. We started working with the shareholders in early 2015 and are delighted to have delivered a result for the shareholders with which they are delighted. Our exercise involved approaching a number of both strategic and financial investors, but it quickly became apparent that an MBO solution was the one that met the varying objectives of key stakeholders.”


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