Total Vehicle Solutions Group acquires Wilcox Commercial Vehicles
Total Vehicle Solutions Group acquires Wilcox Commercial Vehicles
Total Vehicle Solutions (TVS) Group is delighted to announce the acquisition of Wilcox Group Limited, trading as Wilcox Commercial Vehicles (“Wilcox”). Wilcox is one of the UK’s leading manufacturers of aluminium bodies for rigid and tipping trailers and is the first acquisition TVS Group has made since its formation in 2019. Wilcox is also the exclusive Agent for CIFA Mixers in the UK.
TVS Group consists of three of the UK’s leading specialist manufacturing firms that deliver solutions for the commercial and industrial vehicle industry, including SB Components, Priden Engineering and McPhee Mixers with Headquarters in Wisbech Cambridgeshire.
The acquisition strengthens and adds to the Groups Market position in the UK and Europe creating increased cross selling opportunities and the ability to share facilities broadening reach, resource and technical expertise.
Wilcox operates out of a 43,056 sq. ft factory based in Market Deeping, Peterborough, and employs 100 full-time staff. The business will continue to be led by Vito Ronzano, and Chris Bartlett who have owned and developed Wilcox since 2000.
The TVS Group is owned by Elaghmore, the UK-based private equity firm, and has annualised revenue of £45 million. Each company in the Group shares similar attributes, such as high levels of technical expertise and best-in-class customer service in their respective industries.
Craig Harris, Executive Chairman, TVS Group said: “Wilcox brings another leading UK specialist manufacturing firm into TVS Group. It gives me great pleasure to welcome the highly skilled team led by Vito and Chris, who have led the business from strength to strength in recent years. We have had the pleasure of working with Wilcox on a number of occasions and know how highly regarded the business is in the industry. Wilcox will expand our customer offer as we continue to build the TVS Group as the leading player in providing manufacturing solutions to the commercial and industrial vehicle industry in the UK and Europe.”
Vito Ronzano, Managing Director, Wilcox, said: “This is a significant milestone for Wilcox and we are excited to be joining TVS Group who can take our growth to the next level. We look forward to offering our clients even more services and products and pooling expertise and resources with other TVS Group companies. Chris Bartlett and I would like to thank the whole team at Wilcox for their continued hard work and dedication, especially over the last year, which has seen has us continue to deliver for customers to the highest standard, despite the challenges of the pandemic.”
Michael Rice, Investment Director, Elaghmore, said: “Wilcox is the perfect fit for TVS Group, delivering the key attributes we look for of high levels of technical expertise and best-in-class customer service. We have a clear growth strategy for the Group, and we are working ever closer with our fantastic customer base as we look to support their strategies in a commercial and technologically evolving marketplace.”
Advisors:
Total Vehicle Solutions Group & Elaghmore
Mills & Reeve, led by Junaid Haroon & Hayley Simonds, on legal advice and related due diligence.
EY on Financial (led by Ian Kelly) and Tax Due Diligence (led by Neville Crowe).
Vendors
Grant Thornton, led by Doug Bentley & Nicole Wong, on Corporate Finance advice.
Greenwoods GRM, led by Alastair Gunn, on legal advice and related due diligence.