Equistone Partners Europe Limited has acquired a majority stake in UK-based BFT Mastclimbing, a provider of mast climbing work platforms. No financial terms were disclosed.
London, 17 November 2017 – Equistone Partners Europe Limited (“Equistone”), one of Europe’s leading mid-market private equity investors, today announces its investment in BFT Mastclimbing (“BFT” or “the company”), a leading UK independent specialist for the specification, rental, and installation of Mast Climbing Work Platforms (“MCWPs”). Equistone has acquired a majority stake in the company, investing alongside current CEO and founder Robin Head. The financial terms of the deal are undisclosed.
Founded in Leighton Buzzard in 1997, BFT Mastclimbing today maintains a fleet of over 650 motorised MCWPs to provide a cheaper, safer, and more flexible alternative to traditional scaffolding on construction, renovation, and maintenance projects nationwide. Operating out of the company’s central UK depot in Bedfordshire, BFT’s experienced team undertakes specification, delivery, and installation of MCWPs for light-, medium-, and heavy-duty requirements, along with associated training for users. Under Equistone’s ownership, BFT will accelerate its growth in the UK’s largely untapped addressable market for mastclimbing platforms, through the expansion of both its fleet and operations.
Dominic Geer, Partner at Equistone Partners Europe, commented: “BFT Mastclimbing is a highly impressive family business run by an entrepreneurial management team, operating in an underpenetrated market where the potential for rapid growth is significant. Equistone’s investment will provide the funding that BFT requires to increase its capacity and further enhance its national coverage, as well as the impetus to convert a greater share of UK contractors to the advantages of mast climbing technology. We’re delighted to be working with Robin and his talented team, and to be supporting the business through this next, exciting phase of its growth.”
Robin Head, CEO and Founder of BFT Mastclimbing, said: “We’re staunch believers in the benefits provided by our mast climbing platforms, on projects ranging from short-duration maintenance work to complex, long-term builds requiring 50-plus machines. This investment from Equistone will provide a major boost to our scale and capacity to deliver a lower-cost, safer, and more flexible alternative to traditional scaffolding. As we look to further grow the business over the coming years, the entire team remains committed to maintaining the qualities of service and reliability for which we have been known to date.”
Dominic Geer and Tristan Manuel at Equistone led the investment.