Abel Demountable Systems, the Chesterfield trailer and lorry body specialist, has been acquired by Lancashire-based Wheelbase Holdings, with the help of Sheffield-based advisers Hill Dickinson and Castle Square Corporate Finance.
The lawyers and corporate finance specialists advised Derrick and Kathleen Sharpe, who acquired Abel 20 years ago, in a deal which also involved Hill Dickinson partner Neil Thompson
Derrick Sharpe said the sale of Tupton-based Abel would not involve any change of management and the business would carry on as normal.
Neil Thompson said: “It was a pleasure to act on this transaction, which is another example that quality deals are still being done. I have acted for Derrick Sharpe for nearly 30 years including on his acquisition of Abel 20 years ago.”
Kevan Shaw from Castle Square Corporate Finance, added that the deal not only meant a successful exit for Derrick Sharpe but also ensured the future success of the company, which was an excellent strategic fit for Wheelbase.