Bishopsgate advises Autotrak on its sale to ADF PLC
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Bishopsgate is delighted to announce the completion of the sale of Autotrak Portable Roadways Limited, to Facilities by ADF PLC for a consideration of up to £21.3 million.
Bishopsgate advised the shareholders of Autotrak, one of the market-leading suppliers of portable roadway and one of the largest privately owned suppliers of panels to the film and TV sector in the UK. Autotrak supplies a range of aluminium and plastic panels to festivals, outdoor events and construction related industries for a client base of more than 165 customers. In the year to 31 December 2023, Autotrak generated revenues of £8.3 million and adjusted underlying EBITDA(1) of £4.3 million.
Facilities by ADF (AIM: ADF), is the leading provider of premium serviced production facilities to the UK film and high-end television industry (HETV). Its production fleet is made up of 700 premium mobile make-up, costume and artiste trailers, production offices, mobile bathrooms, diners, school rooms and technical vehicles.
The Acquisition is the next step in the delivery of the Group’s vision for ADF as a one-stop shop for film and HETV production, operating across multiple businesses and run by talented local management and accelerates ADF’s diversification of product offering and customer base, including across complementary industries.
James McBain Allan and Joe Bates of Bishopsgate Corporate Finance were lead advisors on the deal.
Bishopsgate Advisors
James McBain Allan
Joe Bates
Marsden Proctor – Chief Executive Officer, Facilities by ADF PLC
I am delighted to announce the conditional acquisition of Autotrak, which marks a material step in our stated strategy of being the provider of choice for the HETV & film industry across a diversified product and service offering. The Acquisition will therefore be a further endorsement of ADF’s aspirations of generating £100m of revenues in the medium term.
ADF already has an excellent working relationship with Autotrak which has provided demonstrable evidence of the strong cultural and technological fit which will be of great benefit to the enlarged Group’s customers.
Michael Fox – Managing Director, Autotrak Portable Roadways
By joining the ADF family, we at Autotrak believe that ADF’s expertise in the film and TV sector will positively influence our day-to-day operations, enhancing the value we deliver to our customers. Aligning with ADF’s vision of industry leadership, for everyone at Autotrak, this integration represents an exciting opportunity to expand our reach and influence.
James McBain Allan – Partner, Bishopsgate Corporate Finance
It has been a true privilege to work alongside Michael and Maria Fox, whose leadership has made Autotrak a market-leading force. We are thrilled to have played a role in supporting their vision through the sale to ADF PLC. With ADF, a blue-chip acquirer, Autotrak is poised to drive future growth and innovation. This transaction not only marks a new chapter for Autotrak but also reaffirms Bishopsgate’s unwavering commitment to achieving extraordinary outcomes for our clients and partners.
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