A Quercus International team led by Tully Cornick and Andrew Clegg has advised Sureserve Group Limited (“Sureserve”) on the sale of Precision Lift Services Limited (“Precision”) to Anlev UK Limited, a subsidiary of ATAL, a Hong Kong listed electrical and mechanical engineering service provider.
Based in Essex, Precision sells, installs and modernises all types of lifts and provides repair and maintenance services to clients across the South East of England. Sureserve had previously announced that Precision was no longer core and that they were looking for a new owner who could help the business to realise its growth ambitions.
The acquisition represents another milestone in ATAL’s strategy to expand internationally following the establishment of Anlev UK in 2020 to enter the European market. Today, Anlev manufactures products from its own facilities in Nanjing, China which are exported to over 20 countries across six continents.
Nicholas Chapman, Group Commercial Finance Director of Sureserve said:
“We are delighted that Precision is now joining an organisation focused on maximising the growth opportunities in the UK lifts market. We are also pleased to have benefited from the expertise and advice of Quercus International whose experience and commitment were significant factors in achieving a successful result.”
Tully Cornick, Associate Partner of Quercus International, added:
“We have very much enjoyed working with Nik and the Sureserve team on this important transaction and we are delighted to have found Precision such a good home. The business has an excellent reputation and longstanding client base and the combination presents Anlev UK with an excellent opportunity to expand their presence in the UK.”