Travers Smith LLP has advised longstanding client Equistone Partners Europe ("Equistone") on its investment in the T.O.M. Vehicle Rental Group ("T.O.M."). Equistone has acquired a majority stake in T.O.M. investing alongside management and the founder owners and the investment is Equistone's seventeenth from its fifth fund, Equistone Partners Europe Fund V.
Founded in 1991 and headquartered in Airdrie, Scotland, T.O.M. is a leading UK provider of long-term flexible hire commercial vehicles, with an established a fleet of over 11,000 vehicles and a workforce of over 500 employees across six hire locations in Scotland and five in England. T.O.M. generated revenues of £213m in the financial year ending March 2016.
Equistone were also advised by Deloitte, Private Acquisitions Limited, Grant Thornton and OC&C. The sellers of T.O.M. were advised by HBJ Gateley.