Clearwater International advises the vendors of King Vehicle Engineering Group on its sale to HW Martin Holdings

The King Vehicle Engineering Group has been acquired by HW Martin Holdings Limited for an undisclosed sum. The King Group includes King Trailers Limited, King Highway Products Limited, King Transport Equipment Limited and Safety Vehicle Hire and Lease Limited.

King Trailers was founded in 1962 and owner Mark Carrington joined the business as part of a management buyout in 1994 later gaining full ownership. The business subsequently diversified into a wider range of specialist vehicles across different market sectors where it holds dominant positions.

HW Martin was established in 1972 as a fencing contractor, and has grown to be a €119m plus turnover business. Its activities now include commercial and safety fencing, waste and recycling, traffic management and vehicle and equipment maintenance and is a parts and service dealer of DAF trucks. It is based in Alfreton, Derbyshire, but has 16 locations from Devon to Scotland.

The King Group will continue to operate as a stand-alone business within the Martin Group. King employs 125 people at its Market Harborough site and is one of the town’s largest employers.

The Clearwater International team comprised partner Jon Hustler, director Rob Burden, senior associate Stephen Nemeth and associate Alex Brindley.

“Having spent 22 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.”

Mark Carrington, Owner and Chief Executive, King Vehicle Engineering Group

“The two businesses have been working together for a number of years and this acquisition will be mutually beneficial. We expect the King Group to go from strength to strength under the ownership of HW Martin Holdings.”

Jon Hustler, Head of Industrials and Chemicals, Clearwater International