Hydrex
was acquired by Bridgepoint in 2002. It is a UK specialist hirer of mobile equipment and skilled operators to the rail, industrial and construction markets where it enjoyed leading market positions.Investment overview
| Sector | Location | Acquired | Deal size | Exit date |
|---|---|---|---|---|
| Business services | UK | 2002 | €66m | 2006 |
Specialist hire was already familiar to Bridgepoint through its investment in Longville Group. Pursuing a 'buy and build' strategy, Hydrex consolidated its market position during 2004 with the acquisition of Scottish hire group Lindsay for £8.5 million and Southern based Hughes for £6 million. Both acquisitions were funded by Bridgepoint.
In March 2006 Hydrex was acquired by Quilvest and Shaoibi Group resulting in Bridgepoint achieving a 3x money multiple.