Haines Watts supports Mechplant North East with acquisition

02 March 2022

Haines Watts supports Mechplant North East with acquisition

Newcastle-based D&K Plant Hire has been acquired by Mechplant North East, in a deal worked on by prominent North East advisers.

D&K Plant Hire provides plant and equipment to construction businesses in the region.

Mechplant is an established name within the regional plant hire industry.

The company was subject to a management buyout in 2019 where directors Brian Wray and Stephen Mackinson bought the division from holding company Esh Group.

Its purchase of D&K Plant Hire is designed to strengthen its position as a leading plant hire service in the North East.

Corporate finance advice was provided to the shareholders of Mechplant by Chris Hird of Haines Watts.

Legal advice was provided by Martyn Tennant of Swinburne Maddison and John Hammill of Square One Law acted for the sellers.

Makinson said: "We have acquired a well-established business with an excellent reputation within the plant hire industry. Now, we look forward to developing and building on the good work achieved by the previous owners.

"There was an end of year completion deadline required by both parties and the advice and support provided by Haines Watts enabled the deal to be completed as scheduled."

Chris Hird, corporate finance associate partner at Haines Watts, added: "This was a great deal to be involved in and this provides Mechplant with a strong regional presence in the construction plant sector to add to their existing heavy crane capability."