Private equity firm Equistone Partners has acquired a majority stake in mast climbing work platform provider BFT Mastclimbing.
Equistone is investing in the business alongside its current CEO and founder Robin Head.
BFT Mastclimbing was founded in Leighton Buzzard in 1997 and has a fleet of over 650 motorised mast climbing work platforms, which it provides to construction, renovation, and maintenance projects around the country.
The firm says that these motorised mast climbing work platforms offer a cheaper, safer, and more flexible alternative to traditional scaffolding.
Under Equistone’s ownership, BFT will accelerate its growth in the UK mast climbing platforms market, through the expansion of both its fleet and operations.
Dominic Geer, Partner at Equistone Partners Europe, said: “BFT Mastclimbing is a highly impressive family business run by an entrepreneurial management team, operating in an underpenetrated market where the potential for rapid growth is significant. Equistone’s investment will provide the funding that BFT requires to increase its capacity and further enhance its national coverage, as well as the impetus to convert a greater share of UK contractors to the advantages of mast climbing technology.”
Robin Head, CEO and Founder of BFT Mastclimbing, added: “We’re staunch believers in the benefits provided by our mast climbing platforms, on projects ranging from short-duration maintenance work to complex, long-term builds requiring 50-plus machines. This investment from Equistone will provide a major boost to our scale and capacity to deliver a lower-cost, safer, and more flexible alternative to traditional scaffolding.”