News

New chair of the board at Evac

Release date: 23/04/2008

A management team advised by PKF Corporate Finance and law firm Harvey Ingram has bought Birmingham-based Evac+Chair International Ltd.

Established in 1985, Evac+Chair is a leading UK-based designer, manufacturer and supplier of emergency mobility and speciality transportation equipment for the fire-life-safety, pre-hospital, medical and intensive care sectors.

The company's head office and manufacturing operations are located in Tyseley, Birmingham, and there is a powder coating facility based in West Bromwich. The management buy out team is led by Mark Wallace and the previous majority shareholder Barry Scholes remains involved as part of the management team.

PKF partner Sally Beavan said: "The EVAC+CHAIR has revolutionised evacuation techniques of the disabled from a multi-storey building in an emergency. Today the EVAC+CHAIR is accepted world-wide as providing the most efficient means of evacuation for the mobility impaired when stairway descent is recommended or mandated. The EVAC+CHAIR has proved its life-safety features in various emergency evacuations around the world, most notably during the World Trade Centre terrorist attacks in 2001 when it was credited with providing the crucial means of escape for several disabled survivors."

Mark Wallace, managing director of Evac+Chair International, said: "Our products are used worldwide and in the UK are recognised as the best solution by organisations such as Debenhams and more locally the NEC and Birmingham Hippodrome. The management buyout will enable us to take Evac+Chair International Ltd forward and continue our growth."

Harvey Ingram partner Mat Harvey said: "Mark and Barry have a great working relationship and their complimentary skills, together with a market leading product range, will ensure the continued success of the Company. The Evac + Chair management buy-out typifies the type and structure of deals that will continue, even in the current uncertain economic climate."

The Evac + Chair buy-out follows the completion of a diverse range of deals overseen by Harvey Ingram's team, which recently handled the management buy-outs of Dunlop Systems & Components, Wrap Film Systems Ltd, Pet Products and Monsal Ltd.

Finance was supplied by the incumbent bank Lloyds TSB and Lloyds TSB Commercial Finance.