Freeths corporate team, led by John Heaphy, has advised Derbyshire’s HW Martin Holdings on its acquisition of The King Vehicle Engineering Group for an undisclosed sum.
The King Vehicle Engineering Group, which is based in Leicestershire, comprises King Trailers, King Highway Products, King Transport Equipment and Safety Vehicle Hire & Lease.
It employs 125 staff in Market Harborough and will operate as a standalone business within the Martin Group.
A statement from HW Martin said: “We have had a strong working relationship with the King Group for a number of years.
“We are confident that this acquisition will bring benefits to the both organisations and further demonstrates our commitment to reinvest profits in the Martin Group to ensure continued progress and security”.
The King Vehicle Engineering Group is led by Mark Carrington, who completed a management buyout of the business in 1994.
He said: “Having spent 23 years in the business I was keen to identify a UK purchaser that shared my values for the business that would take a longer term view of moving the business to the next level. I am committed to staying with the business for the foreseeable future to ensure a smooth transition”.
HW Martin was established as a fencing contractor in 1972 and now has a turnover of more than £100m. It is headquartered in Alfreton and has 16 bases across the UK.