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Browne Jacobson advise Rcapital on acquisition of specialist lift business Temple Lifts from Hitachi, Limited

25 July 2023

Browne Jacobson’s corporate and banking lawyers have advised private investor, Rcapital on its acquisition of Bromley headquartered lift company, Temple Lifts Ltd from Hitachi, Limited.

Temple has over 35 years’ experience in the lift maintenance sector and has a solid reputation for delivering a reliable and technically proficient service at an affordable price. The business operates from Greater London, Havant and Stoke on Trent, although its services are provided at nationwide level.

Rcapital was established in 2004 and provides private investment, commercial expertise, and hands-on support to transform and grow businesses. Since its inception, the business has made over 75 investments into businesses across a broad range of sectors throughout the UK and Europe. It typically focuses on SMEs that have a turnover between £5m to £200m.

Browne Jacobson partner Paul Hill, who also leads the firm’s Energy and Infrastructure practice led on the banking and finance aspects of the transaction along with senior associate Melanie Hilton and associate Patrick Berry. Corporate partner Mark Hughes led the corporate finance team which included senior associate Clare Hanna and associate Sonia Bains

Paul Hill said of the transaction: “Rcapital are highly experienced in investing and transforming businesses in the industrial and business services sector, so this latest acquisition of Temple will be a strong addition to their diverse portfolio. The deal also gives Temple Lifts a great opportunity to further strengthen its market position and enhance its capabilities linked to its current service lines which includes maintenance, repairs, installations, and lift and escalator modernisation.

“This was an interesting deal for our team to have supported on and reflects not only the strength of our combined banking and corporate finance knowledge and market experience but endorses our growing reputation of supporting businesses in the infrastructure space. 

“Temple Lifts are fully committed to sustainability and have a robust set of environmental objectives in place to ensure their service offering around lift infrastructure has little impact on the environment and we are proud to have worked with a business that keeps the environment central to what it does, mirroring our own firmwide commitments around ESG.”

Sam Duberley, Investment Manager at Rcapital said: "Temple Lifts is a solid business that has built a strong reputation for technical expertise and exceptional client service. We are looking forward to supporting the management team as they take the business into a new era of growth and profitability.

“We would also like to thank the full Browne Jacobson advisory team who reacted quickly to provide us with a comprehensive service across both corporate and banking workstreams. Browne Jacobson’s thorough and commercial approach meant we were able to achieve a great result for all parties and highlights the team’s ability to get under the skin of each of the clients they work with and the diverse sectors they operate in.”

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