Taylor Wessing has advised longstanding client Rutland Partners on its sale of Brandon Hire, a leading tool and equipment hire company, to Vp plc, realising a return of 2.6x on its original c.£32 million investment.

Bristol-based Brandon Hire was founded in 1971, and now serves over 30,000 customers from 140 locations across Britain, employing over 900 people. The business is a key supplier of rented tools and equipment to the maintenance and construction sectors, as well as to growing markets such as the events industry.

Taylor Wessing advised Rutland throughout the lifecycle of its investment in Brandon Hire, from its acquisition in 2010, the bolt-on of Phoenix Surveying Equipment, through to the successful disposal.

David Wardrop, partner at Rutland said: “Brandon Hire was a complex carve-out from its previous owners at a difficult time for the UK economy. Under the leadership of Tim Smith and his senior team, the business has become one of the most consistent performers in its sector and within our portfolio irrespective of market conditions. This deal is a great outcome for both our fund investors and the Brandon Hire team. We are grateful to Ed and the rest of the Taylor Wessing team for the excellent support they provided on the sale of the business and throughout our investment in Brandon Hire.”

Edward Waldron, partner in Taylor Wessing’s Private Equity group, added: “Having advised Rutland and the company since the original investment in Brandon Hire, it is great to have now acted for them on this successful exit. It has also been a pleasure working with Tim Smith and his team over the last few years.“

The Taylor Wessing team was led by Edward Waldron, together with senior associate Jonny Bethell and associate Catherine Williams. Banking & Finance partner Martin Yells worked on the debt aspects with senior associate Gabriel Estevez.

This is one of three major transactions that Taylor Wessing has advised Rutland on this year. The firm also acted for the business on the Fund III investments into Omar Group and Armitage Pet Care.