Alcolock® GB Limited was established in 2006 by David Whittock. With a background in motorsports, and against a backdrop of increasing alcohol-related road accidents in the UK, David saw a niche in the market place which could help address the issue of drink driving.
The business acquisition means private equity-backed Isotrak Group – based in Northampton and market leaders in fleet management and telematics solutions – can diversify its portfolio; offering a highly-complementary product, as well as expanding its customer portfolio in the transport industry both at home and abroad.
David Whittock, of Alcolock® GB Limited, said: “I believe the products and services Alcolock® GB has developed are becoming more and more essential in the automotive sector, particularly within public transport due to legislation and a better awareness amongst directors of their duty of care in relation to their drivers.
“Watersheds identified Isotrak as a strategic buyer who could give the business a new direction, but more importantly who shared my concerns about road safety, and understood the importance of these products and services.”
“I am very pleased to have worked with Watersheds. They were able to take on the work required to successfully complete the deal, allowing me to focus on continuing to run the business successfully. There were times when I found the process overwhelming and Watersheds were able to manage all parties efficiently and timely which took the pressure off me.”
Wendy Lam, Partner at Watersheds, said “Alcolock® GB sold a very distinct product range and required a buyer who understood its true market potential in order to see the real value in the business. It was clear from the initial discussions with the Isotrak Group, they did just that.”
“Through our candid approach, we were able to negotiate a deal that met David’s expectations and complete the whole transaction within two months of signing the heads of agreement. We are pleased we were able to assist in a business acquisition that will be the start of an exciting new chapter in road safety across the UK.”
Selling your business can be a complicated yet extremely rewarding affair. For expert support, contact Watersheds today.