R Swain boosts portfolio with Gatwick Plant deal

Rochester-based R Swain & Sons has delivered a boost to its special projects division with the acquisition of specialist plant and services firm Gatwick Plant.

Based in Horley, Surrey, Gatwick Plant runs a 12-strong fleet of specialist vehicles including low-loaders, rear-steer trailers, crane-equipped vehicles and abnormal load escorting vehicles. The family-owned firm, which serves the construction, airport and rail sectors and employs 30 staff, was acquired on 1 October and will operate as a standalone business under the guidance of director of special projects Matthew Swain.

The purchase includes Gatwick Plant’s 1.5-acre site at Horley and a leased warehouse in Crawley.

Swain Group MD Paul Kavanagh, who joined the operator from Bibby Distribution in January, declined to specify Gatwick Plant’s turnover or profit but said it was “a good, well-run business with a turnover and size that is meaningful to us”.

“It adds diversification in the specialist sector with a different customer base,” he continued.

The move, which follows the acquisition in spring last year of Hatfield-based Hallett Silbermann, was announced shortly after R Swain & Sons revealed a near-30% rise in pre-tax profit for the year to 31 December 2014. Turnover rose 4.57% from £34.8m to £36.4m; while pre-tax profit rose 28.3% from £1.34m to £1.72m, leaving the firm with a 4.7% profit margin.

Kavanagh told Commercialmotor.com the boost in profit was down to a number of operational efficiencies during the year including better driver retention and less use of agency staff, a number of one-off projects that had allowed for better fleet usage, better seasonal planning and dropping some lower-paying general work.

Kavanagh stopped short of predicting another 28% rise in profit but said the firm is optimistic for this year.

• R Swain has added 20 Daf CF 460 FTG Space Cabs (above) to its 320-strong fleet. The trucks are returning an average of 9.1mpg on mixed work and were sourced from Ashford-based dealer Channel Commercials.