458 advises the shareholders on the sale of Midlands-based construction plant hire group to strategic buyer

Key Highlights

  • Sector: Construction
  • Category: Plant and Machinery
  • Deal Type: Share sale
  • Deal Size: £X,000,000


458 acted for the shareholders of the Clements Plant & Tool Hire group on the sale of their shares to south-east plant and tool hire business, F.G.S. Plant (part of the Heathcote Holdings Group). Jim Longstaff, the majority shareholder and chairman of Clements, exited the business after 16 years as part of the transaction whilst minority shareholder and managing director, Adrian Hutchinson, continues to lead the company.

Nathan Lapsley, who led the 458 team said: “With a tight timescale to close the deal before the end of the financial year, we collaborated closely with the Clements shareholders and called upon our expert partners across real estate, employment and tax at Excello Law to ensure a timely and successful completion. We supported the shareholders at every stage of the transaction and really valued their insights into the industry and passion for ensuring that Clements was handed over to the right custodian to take it forward. We wish all the sellers every success in the future and will be looking out for Clements in the years to come under Adrian’s continued leadership.

Jim Longstaff comments

“I was introduced to 458  to deal with the sale by a mutual contact when we were first approached by F.G.S. to sell the business. All the sellers are delighted with the service we received. Nathan, James and Victoria were fantastic – not only were they super responsive and very commercial in solving problems, but they were also calm and professional right up to the last minute. I would not think twice about using them again in whatever is next in store for me.”