Ashtead Technology Holdings Plc (AIM:AT.) acquired founders Alfred Cheyne Engineering Limited from Alfie and Valerie Cheyne for £53.5 million on November 30, 2023. ACE Winches will form part of the Group's enlarged Mechanical Solutions offering, a core area of focus for inorganic expansion. Gary Wilson, current Chief Commercial Officer at ACE Winches will run the day to day operations reporting to Ashtead Technology management with founder, Alfie Cheyne, remaining with the business as an advisor for 12 months to provide strategic and commercial input through a handover and integration period. The Transaction will be funded through drawing on the Group's revolving credit facility. Numis Securities Limited acted as financial advisor to Ashtead in this transaction. Piper Sandler Ltd. acted as financial advisor to ACE Winches.

Ashtead Technology Holdings Plc (AIM:AT.) completed the acquisition of founders Alfred Cheyne Engineering Limited from Alfie and Valerie Cheyne on November 30, 2023.