INDUSTRY
Established in 2008, Driver Support Services Ltd was a specialist transport recruitment agency serving the UK petrochemicals industry.
Driver Support Services’ majority shareholders, Mark and Claire Gray, were looking to grow the business, and met with Avondale to discuss how to take the company forward. Following a consultation and careful analysis of the firm’s operations, it was decided that the most advantageous approach would be to undertake a share sale, which would allow for the injection of new capital, as well as fresh ideas.
Now listed for sale, Driver Support Services continued to enjoy rapid revenue growth. It was clear the company had significant future potential that could positively impact its valuation. Avondale’s team recommended that the business be removed from the open market for a short period – this would show potential acquirers that the high-growth trend was continual rather than an anomaly.
Sure enough, following a short hiatus, a robust offer for the re-listed business was received from Pyramid Connect, a transport and logistics recruitment practice that was looking to capitalise on Driver Support’s extensive customer base and nationwide coverage. The offer accepted, Avondale worked closely with both sides to smoothly execute the deal. Driver Support is well placed for long-term expansion, while the Grays can look forward to exploring new ventures from a strong financial position.
