AB 2000, which is based in Glasgow and has a turnover of approximately £30 million a year, has been acquired by Quattro Group, a leading supplier of equipment to the UK road, rail and construction industries, in one of the largest private takeover deals in Scotland this year.
Handled by Partner, Iain Young and the corporate team at Morton Fraser, the deal is one of the largest to be handled by the firm this year, with the team undertaking a pre-sale reorganisation of the AB 2000 Group and delivering M&A advice to the selling shareholders.
The deal sees the acquisition by the Quattro Group of all trading divisions of AB 2000, including Ellon Plant Hire Limited, Phoenix Weights and Phoenix Marine.
Iain Young said: “Morton Fraser has worked with AB 2000 for a considerable number of years and we have been delighted to see at first hand its growth and development. This transaction is, by any measure, significant in Scottish corporate circles and falls squarely into the type of corporate deals that we seek to undertake here at Morton Fraser. We wish Adam Bruce and his fellow shareholders the very best for the future and hope the business continues to prosper under its new ownership."
Adam Bruce, founder of AB 2000, said: “Iain and his team at Morton Fraser have played an integral part in our sale to Quattro Group. Their input and knowledge have been extremely valuable, particularly during such a lengthy and sensitive process.”
Morton Fraser currently employs over 270 people, including 30 people in the firm’s corporate team in offices in Edinburgh and Glasgow.