ATR in £20m private equity deal

PRIVATE equity firm NBGI yesterday bought Maven Capital Partners’ stake in Aberdeen-based equipment supplier ATR Group in a £20 million deal.

ATR said it would use the equity and debt package, which was supported by Clydesdale Bank, to speed up its international expansion and increase the number of machines that it has to rent to clients.

NBGI has backed ATR’s existing management team led by Keith Moorhouse, who is reinvesting in the business, alongside operations director Mike Robertson and newly-appointed chief financial officer Euan Leask.

Moorhouse said that working with the private equity firm would allow the company to look at making further acquisitions and increase its turnover past the current £17m.