Caledonian Building Systems Limited (CBS), the UK’s leading modular construction company has sold its secure portable accommodation hire business, which trades under the name Caledonian Safemaker, to Speedy Hire plc for £13.7 million advised by the Nottingham office of Clearwater Corporate Finance and the Birmingham office of Gateley Wareing.
CBS is part of the Calsafe Group, a £90 million turnover business which is the UK’s leader in pre-engineered buildings and off-site construction. Based in Newark, Nottinghamshire, Safemaker has five depots in Manchester, Rainham, Leeds, Birmingham and Bristol, and services the entire UK.
The Clearwater team of Paul Newell and Dan Bowtell originated the deal through its existing relations with the management team and shareholders after advising on the previous sale of CBS in 2003 when the business was sold to Dunedin Capital Partners and management for £30 million.
Clearwater partner Paul Newell said Caledonian Safemaker is a great local business that has grown successfully year on year since its inception in 1997. “We are pleased to have assisted the group on the sale of the business to Speedy Hire plc and think it is a great result for both sides.”