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Primary Backs MBO of Readypower

Primary Backs MBO of Readypower

ASL Completes Seventh Acquisition
March 2023

ASL Completes Seventh Acquisition

Primary Backs MBO of Readypower

Sharples Acquired by ASL Group
February 2023

Sharples Acquired by ASL Group

Primary Backs MBO of Readypower

Stagwell (STGW) Marketing Cloud acquires Maru Group
October 2022

Stagwell (STGW) Marketing Cloud acquires Maru Group

Primary Backs MBO of Readypower

Primary announces Promotion
October 2022

Primary announces Promotion

Primary Backs MBO of Readypower

ASL Group Completes Further Acquisition
September 2022

ASL Group Completes Further Acquisition

Primary Backs MBO of Readypower

Primary appoints new Chief Financial Officer
June 2022

Primary appoints new Chief Financial Officer

Primary Backs MBO of Readypower

Skill and You acquires ICS Learn
March 2022

Skill and You acquires ICS Learn

Primary Backs MBO of Readypower

Primary Sells Readypower to Angel Trains
January 2022

Primary Sells Readypower to Angel Trains

Primary Backs MBO of Readypower

Primary Invests in Sigma Sports
March 2021

Primary Invests in Sigma Sports

Primary Backs MBO of Readypower

ICS Learn Acquires Acacia Learning
January 2021

ICS Learn Acquires Acacia Learning

Primary Backs MBO of Readypower

Primary Announces Two Promotions for the New Year
January 2021

Primary Announces Two Promotions for the New Year

Primary Backs MBO of Readypower

ICS Learn Acquires Development Processes Group
October 2020

ICS Learn Acquires Development Processes Group

Primary Backs MBO of Readypower

Readypower Acquires RRV Assets of Holyrail
July 2020

Readypower Acquires RRV Assets of Holyrail

Primary Backs MBO of Readypower

ASL Group Expands into the North West
February 2020

ASL Group Expands into the North West

Primary Backs MBO of Readypower

Primary Backs the MBO of Foster+Freeman
August 2019

Primary Backs the MBO of Foster+Freeman

Primary Backs MBO of Readypower

Primary Backed ASL Group Acquires Reprotec
July 2019

Primary Backed ASL Group Acquires Reprotec

Primary Backs MBO of Readypower

Primary Backs MBO of ASL Group
June 2019

Primary Backs MBO of ASL Group

Primary Backs MBO of Readypower

VJ Technology Acquires Mainline Products
May 2019

VJ Technology Acquires Mainline Products

Primary Backs MBO of Readypower

New Board Appointment Drives Metamark International Expansion
November 2018

New Board Appointment Drives Metamark International Expansion

Primary Backs MBO of Readypower

Maru Group Acquires Lissted
October 2018

Maru Group Acquires Lissted

Primary Backs MBO of Readypower

Primary Sells Esteem Systems to Roc Technologies
October 2018

Primary Sells Esteem Systems to Roc Technologies

Primary Backs MBO of Readypower

Primary Backed Maru Group Acquires Hispanic Reseach Panel Tu Cuentas
June 2018

Primary Backed Maru Group Acquires Hispanic Reseach Panel Tu Cuentas

Primary Backs MBO of Readypower

Primary Backs MBO of VJ Technology
June 2018

Primary Backs MBO of VJ Technology

Primary Backs MBO of Readypower

Primary Backs MBO of ICS Learn
May 2018

Primary Backs MBO of ICS Learn

Primary Backs MBO of Readypower

Metamark acquires Trimwel
May 2018

Metamark acquires Trimwel

Primary Backs MBO of Readypower

New Acquisition for Portfolio Company Readypower
December 2017

New Acquisition for Portfolio Company Readypower

Primary Backs MBO of Readypower

Primary Welcome Futurist Ray Hammond to Cliveden House
October 2017

Primary Welcome Futurist Ray Hammond to Cliveden House

Primary Backs MBO of Readypower

Two New Senior Hires for Metamark
October 2017

Two New Senior Hires for Metamark

Primary Backs MBO of Readypower

Primary Backs the MBO of Metamark
May 2017

Primary Backs the MBO of Metamark

Primary Backs MBO of Readypower

Primary Hires new Investment Manager
May 2017

Primary Hires new Investment Manager

Primary Backs MBO of Readypower

Primary Announces New Promotions
April 2017

Primary Announces New Promotions

Primary Backs MBO of Readypower

Primary Awarded UK Mid-Cap Deal of the Year
April 2017

Primary Awarded UK Mid-Cap Deal of the Year

Primary Backs MBO of Readypower

Primary Announces Sale of Thompson & Morgan
March 2017

Primary Announces Sale of Thompson & Morgan

Primary Backs MBO of Readypower

Primary Backs MBO of Readypower
February 2017

Primary Backs MBO of Readypower

Primary Backs MBO of Readypower

Sale of Leisure Pass Nominated as UK Mid-Market Deal of the Year
January 2017

Sale of Leisure Pass Nominated as UK Mid-Market Deal of the Year

Primary Backs MBO of Readypower

David Richard Promoted to Assistant Director
January 2017

David Richard Promoted to Assistant Director

Primary Backs MBO of Readypower

T&M Seed Leads to Discovery of Supergene
January 2017

T&M Seed Leads to Discovery of Supergene

Primary Backs MBO of Readypower

Primary Backs Third Acquisition for Maru Group January 2017
January 2017

Primary Backs Third Acquisition for Maru Group January 2017

Primary Backs MBO of Readypower

Primary Sells Leisure Pass Group
December 2016

Primary Sells Leisure Pass Group

Primary Backs MBO of Readypower

Primary Backs Further Acquisition for Maru Group
April 2016

Primary Backs Further Acquisition for Maru Group

Primary Backs MBO of Readypower

Primary Invests in Maru Group
February 2016

Primary Invests in Maru Group

Primary Backs MBO of Readypower

Thompson and Morgan Develops "Egg and Chips" Plant
January 2016

Thompson and Morgan Develops "Egg and Chips" Plant

Primary Backs MBO of Readypower

Esteem Wins Dell Enterprise Partner Award
October 2015

Esteem Wins Dell Enterprise Partner Award

Primary Backs MBO of Readypower

Esteem Recognised with Prestigious Oracle Partner of the Year Award
October 2015

Esteem Recognised with Prestigious Oracle Partner of the Year Award

Primary Backs MBO of Readypower

Primary Sells Pacific Direct to ADA Cosmetics
September 2015

Primary Sells Pacific Direct to ADA Cosmetics

Primary Backs MBO of Readypower

Primary grows Manchester office with addition of Chris Hopwood
September 2015

Primary grows Manchester office with addition of Chris Hopwood

Primary Backs MBO of Readypower

New Appointment for Primary as Dayna Currie joins Manchester Office
July 2015

New Appointment for Primary as Dayna Currie joins Manchester Office

Primary Backs MBO of Readypower

Esteem Wins Oracle Storage Award
March 2015

Esteem Wins Oracle Storage Award

Primary Backs MBO of Readypower

Cutty Sark Among New London Pass Attractions for Summer 2015
March 2015

Cutty Sark Among New London Pass Attractions for Summer 2015

Primary Backs MBO of Readypower

Primary Announces Sale of Amtech to Trimble
November 2014

Primary Announces Sale of Amtech to Trimble

Primary Backs MBO of Readypower

Primary Backs Buy-Out of GatenbySanderson
November 2014

Primary Backs Buy-Out of GatenbySanderson

Primary Backs MBO of Readypower

Primary Expands Team with New Partner Appointment
September 2014

Primary Expands Team with New Partner Appointment

Primary Backs MBO of Readypower

Primary Exceeds Target for Fund IV
August 2014

Primary Exceeds Target for Fund IV

Primary Backs MBO of Readypower

Gothenberg City Card to Use Leisure Pass LPOS System
August 2014

Gothenberg City Card to Use Leisure Pass LPOS System

Primary Backs MBO of Readypower

Esteem Achieves Citrix Solution Advisor Platinum Status
August 2014

Esteem Achieves Citrix Solution Advisor Platinum Status

Primary Backs MBO of Readypower

Primary Expands Team with Appointment of David Richard
July 2014

Primary Expands Team with Appointment of David Richard

Primary Backs MBO of Readypower

Esteem Helps Accelerate Research Capability Across Northern England with Super Computer
July 2014

Esteem Helps Accelerate Research Capability Across Northern England with Super Computer

Primary Backs MBO of Readypower

Primary awarded Mid-Cap Deal of the Year for sale of Napier Turbochargers
April 2014

Primary awarded Mid-Cap Deal of the Year for sale of Napier Turbochargers

Primary Backs MBO of Readypower

Leisure Pass teams up with Gourmet Society to launch expanded London Pass Dining Guide
April 2014

Leisure Pass teams up with Gourmet Society to launch expanded London Pass Dining Guide

Primary Backs MBO of Readypower

Second Amtech BIM Conference another massive success
March 2014

Second Amtech BIM Conference another massive success

Primary Backs MBO of Readypower

Leisure Pass Group joins up for New China Tourism Campaign
January 2014

Leisure Pass Group joins up for New China Tourism Campaign

Readypower Engineering Limited (”Readypower”) is pleased to announce the completion of a management buyout of the business from the current owner, Julie Mahoney. The management team was backed by Primary Capital (“Primary”), one of the UK’s leading mid-market private equity firms. The terms of the transaction are undisclosed.  

Readypower is one of the foremost accredited suppliers of professionally-operated plant hire services to the regulated rail sector in England and Wales. The buyout was led by Russell Jack, who will be the new Chief Executive Officer (CEO), and Tony Hepburn, who will be the new Chief Operating Officer (COO). Gerry Devanney joins Readypower as its Chief Finance Officer (CFO). 

Russell and Tony have led the business for the last five years and in that time have presided over a period of high growth in revenue and profits. This has been driven by Readypower’s reputation for the highest levels of reliability and customer service and the breadth of its specialist, certified rail assets. 

Russell Jack, CEO of Readypower commented, “Readypower is widely recognised as one of the best asset-heavy service providers in the rail industry with one of the most reliable fleets of machines. It is our intention to continue to build on that success, remaining focused on providing the very best service levels. I am very pleased to be partnering with a shareholder in Primary which is committed to investing further in people and assets to sustain Readypower’s growth and ensure we are even better placed to continue to meet our customers’ needs.”  

The deal was led by Alistair Armstrong, Peter Jacobs and Oliver Melliss at Primary.

Alistair Armstrong commented, “Readypower provides a critical role in assisting its customers to repair and maintain the UK rail infrastructure, with ever-increasing rail usage placing greater demands on the network. Operating in such a heavily-regulated and demanding market requires excellent assets, people and services and a relentless focus on quality and reliability. Readypower’s consistent, industry-leading reputation for these attributes is extremely impressive and stems from the strong service-oriented culture which Russell, Tony and the team have instilled in the business. We look forward to supporting the further growth of Readypower over the coming years.” 

PNC Business Credit provided debt finance for the deal and to help fund future growth. BDO Corporate Finance advised management and Primary. The vendors were advised by HW Corporate Finance. 

 

Contact Neil Wallace for more information

Tel: +44(0) 20 7920 4800
Email: neil@primary.pe

Related News

Primary Sells Readypower to Angel Trains
Jan 2022

Primary Sells Readypower to Angel Trains

Readypower Acquires RRV Assets of Holyrail
Jul 2020

Readypower Acquires RRV Assets of Holyrail

New Acquisition for Portfolio Company Readypower
Dec 2017

New Acquisition for Portfolio Company Readypower

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