First National Plant Rentals (FNPR), a leading regional construction equipment hire company, has been acquired by renowned turnaround specialist Ian Bowland in an M&A transaction orchestrated by Mark Sapsford.
The deal marks a significant step for Bowland, who has a strong track record of reviving and growing acquired businesses - providing C-suite advice to OMB, SME and PLC M&A and exit strategies.
Bowland says: "I invest in companies with an emphasis on increasing and unlocking shareholder value whilst contributing as an advisor, non-executive director or chairman."
FNPR was originally founded in 1971 as Willetts & Hawkins by Gordon Hawkins and has since established itself as a trusted contractor, offering a wide range of rental equipment including diggers, minidiggers, water bowsers, mixers, compressors, dumpers, and rollers.
Three decades of equipment hire legacy
The company has a rich history of ownership transitions. In 1991, it was sold to Thomas Matthew’s Core Investments, a family holding company that aggressively expanded its portfolio with eight plant hire acquisitions in the late 80s and early 90s.
Ian Bowland, a former M&A dealmaker, first acquired FNPR in 2007 as part of his strategy to buy and scale businesses. While the exact financial details of this acquisition are not disclosed, it formed part of Bowland's broader vision of acquiring companies with high growth potential.
10 years after: another business exit
A decade later, in 2017, Bowland sold FNPR to the Harrogate-based equipment rental giant VP PLC, further advancing the company’s market position.
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