The deal will see Essential become one of the UK’s largest providers of specialist and commercial vehicles. The combination of Essential and Go Plant creates a group with sales of £80m (€104.5m), over 500 staff and 35 depots and service centres across the UK.
This is Cope’s twelfth major deal in the fleet sector and the first acquisition by Essential since Endless acquired the company from Kier in July 2015. Endless brought in Cope as executive chairman to lead the commercial strategy for the business and identify opportunities for mergers and acquisitions in the sector.
Leicestershire-based Go Plant provides operated and self-drive road sweepers, refuse vehicles and other specialist equipment. Essential acquired Go Plant from the Davidsons Homes group, the Midlands-based construction firm owned by the David Wilson family of housebuilders.
This is Endless’ latest investment from its £525m Fund IV. The transaction follows a busy first half of 2017 which has included the acquisitions of Jones Bootmaker, Carpet & Flooring and Affinity Workforce, together with the exits of Karro Food Group and Imtech.
The Endless deal team was led by Tom Jack and Matthew Jubb, supported by Kerry Battiscombe and Lee Abbott.
Essential and Endless were advised by Jonathan Jones at Squire Patton Boggs and Steven heath at KPMG. The sellers were advised by Giles Elliot at Jones Day and Ian Birch at PwC.