CRH Plant sold to Fox Group
Rockworth provided lead advisory services to the shareholders of Cotswold Roller Hire
Founded in 1965, CRH is one of the UK’s largest plant hire businesses specialising in rollers and other equipment for surface compaction and road building. The business has its head office in Evesham and operates from eight depots across England and Wales, employing close to 100 staff. It is a respected supplier to many of the UK’s biggest and best-known construction and civil engineering firms.
Lancashire-based Fox Brothers originally operated as a supplier and haulier of aggregates across the North West. In recent years, the group has developed its business both organically and through acquisitions, to offer a broader range of services.
The acquisition of CRH is of huge strategic importance to Fox. As well as taking control of CRH’s extensive fleet of vehicles, the transaction marks Fox’s transition from being primarily a regional business to becoming a nationwide operator.
Acting for the CRH shareholders, Rockworth attracted bids from a number of buyers, including major plant hire groups and private equity.
Vikki Wales, director of CRH and daughter of founder David Wales, said: “CRH was our family business. We always wanted to pass the business into the right hands, as well as getting the best possible price. Rockworth understood those goals, and we are delighted with the outcome they helped us to achieve. Fox is a family business too, and it felt like a good fit from the very first meeting. I am looking forward to seeing CRH continue to grow as part of the Fox Group.”
Paul Fox, CEO of Fox Group, said: “CRH has a solid reputation with strong family values and an outstanding team who are passionate about customer service, which is aligned to the Fox Group culture. The acquisition of CRH adds a large number of plant items and specialised transport to our already substantial fleet of plant, tippers and bulk haulage. The geographical spread of CRH’s depots extends the reach of Fox Group, hugely increasing our footprint across the UK.”