We are excited to have provided a multi-million pound facility to support leading independent lift services provider, Provident Lift Group (Provident) in their acquisition of Temple Lifts (Temple) in a deal advised by Altenburg Advisory.
Founded by Keith Duberley, Provident is a market leading Lift and Escalator company serving a broad array of customers for over 35 years. Headquartered in Farnborough, Hampshire, Provident undertake lift installation, modernisation, repairs and maintenance for clients operating commercial buildings, shopping centres, residential buildings and industrial facilities throughout London and all over the South East.
Established in 1989, Temple is a leading provider of lift maintenance, repair and modernisation services in the UK. Temple will retain its own brand and identity while benefitting from synergies and shared best practices from being part of the Provident Group.
We are delighted to have completed the acquisition of Temple. An acquisition that secures the independent future of Temple Lifts and strengthens its foundation for continued growth and success within the Provident Lift Group. We are very grateful to Dave and Dan and their respective teams at ThinCats and Altenburg for their support and advice throughout the funding process, ensuring that we obtained an attractive and appropriate funding solution.Keith Duberley, owner, and founder of Provident
Dave Sherrington, Managing Director, London and South, ThinCats commented: “It has been fantastic working with Keith, and we are excited to be supporting an ambitious business on a strong upwards trajectory. This acquisition will help the wider group expand into new geographies and we look forward to seeing them continue to go from strength to strength.”
Dan Barrett, Partner at Altenburg Advisory, said: “We really enjoyed working with Keith and his team and are delighted to have helped facilitate this transaction. Our hands on approach enabled us to structure and arranged tailored facilities from ThinCats to enable the transaction to be completed in a timely manner while providing Provident with structural flexibility around its debt funding”
