Business development during Nevis ownership
- The business was formed in November 2009 when Nevis acquired Woodside Power and re-branded it as Apex Generators.
- We brought in experienced management to augment the existing Woodside Power team and supported them to relocate the business and implement an ISO accredited integrated management system within six months.
- This facilitated a market leading level of customer service which helped drive sales into new sectors and geographies.
- To support this growth, Nevis and its banking partners provided the finance to increase the hire fleet from 10mVA to 45mVA.
- During our ownership, sales quadrupled and what had been a breakeven business generated EBITDA in excess of £1.7m per annum.
- In 2013, Nevis identified HSS Hire Group as a potential trade acquirer of the business and initiated discussions about combining Apex with their existing Abird business.
- Having built a strong relationship with the HSS team, we sold Apex to them in March 2014.
The success of Apex was driven by the combination of a strong management team complemented by the strategic support of Nevis. Robert Gibson, who led the Apex management team, commented:
“Nevis brought the experience, finance and mindset for growth that we needed and were instrumental in the development of the business. Their straight-forward approach and ability to support us when required made them the ideal partner for a growing business.”