John Nixon Ltd (“Nixon Hire”), a leading equipment provider of plant, site accommodation, welfare and toilets to construction, utilities, infrastructure, housebuilders and corporate events, announces an investment by Pricoa Private Capital (“Pricoa”). MCF acted as financial adviser to Nixon Hire throughout the process, leveraging its extensive network and expertise within the equipment rental segment.
MCF advises Nixon Hire on its investment from Pricoa Private Capital
“MCF played a vital role in ensuring that the objectives of me and my family were achieved. I'm grateful for the expert skills and support demonstrated by MCF throughout the project. I'm very excited to start this new chapter of the business my father founded over half a century ago.”
CEO of Nixon Hire
The Partnership with Pricoa was instigated to facilitate the exit of three Nixon Hire shareholders and consolidate the shareholding of Graham Nixon, CEO, and his father, the founder of Nixon Hire, John Nixon.
This deal benefits customers, employees and industry stakeholders as the investment accelerates Nixon Hire’s growth strategy. The Directors and senior management team will be invested in the Company alongside Pricoa.
Established in 1967, Nixon Hire is a nationwide provider of construction equipment for hire and for sale. Core hire items include large plant, portable toilets, static and mobile welfare facilities, site accommodation and solar solutions. Nixon Hire employs circa 450 people and operates 13 Depots in the UK throughout England and Scotland.
Graham Nixon, CEO of Nixon Hire, said: “MCF played a vital role in ensuring that the objectives of me and my family were achieved. I’m grateful for the expert skills and support demonstrated by MCF throughout the project. I’m very excited to start this new chapter of the business my father founded over half a century ago.”
About Pricoa Private Capital
The private capital business of Prudential Financial, Inc., one of the largest life insurance and financial services firms in the world.