Equipment hire buyout

Equipment hire buyout

GOODE DURRANT, the specialist vehicle hire group , has sold its equipment hire company, Ravenstock Tam, to a management buyout team for around pounds 25.8m. The buyout is led by Dudley Thompson, a former finance director of Goode Durrant. The total proceeds from the sale include borrowings of pounds 9.3m, which will be assumed by the buyer. The disposal will allow Goode Durrant to focus on Northgate, its commercial vehicle hire business.

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