New owners for Hessle Fork group

CorpAcq has bought 100 per cent of the business for an undisclosed sum. As a result, its annual group turnover will approach £70m.

Established in 1968, Castleford-based Hessle supplies earth-moving equipment.

The company, which has 40 staff and an annual turnover of £10m, is the largest Manitou forklift truck dealer in the country.

Manchester-based CorpAcq legal director Gary Black said: “Hessle is a successful and profitable business with a wealth of experience in the plant hire industry and will integrate well with the other businesses in our port- folio.

“This sector is a key area for our group and we’re delighted that it’s expanding.”

Founder Peter Rumgay will remain with the business as a consultant and his son, Andrew Rumgay, has become managing director.

CorpAcq chairman Geoff Robinson also joins the Hessle board.

Advisers who worked on the deal with Mr Black included Nick Cattell of TMG Corporate Finance, Jeremy Lee of Myers Lister Price, Sinead Ormerod of Cobbetts and Peter Barton of Yorkshire law firm Gordons, who were legal advisers to the sellers.

Acquisition finance was provided by PNC Business Credit and the deal team was led by Mark Shackleton.

The CorpAcq portfolio includes a further eight businesses: Regency Glass, Vista Panels, Glasscraft, Metcalfe Plant Hire, Filtermech, UK Logistics, Mather and Stuart Generators and the Carrylift Group.