Gloucestershire-based Steertrak UK Limited has just closed an investment and management buy-in from Bristol based Zygo Capital.
Established in 1984, Steertrak has grown to become one of the UK’s largest on-site commercial vehicle laser wheel and axle alignment specialists. Steertrak operates a fleet of mobile engineers utilising the latest precision laser measuring equipment, via their Tewksbury control centre, and is the only UK National provider of such services.
Zygo Capital Managing Partner Jeremy Krantz has joined the board of Steertrak and commented: “Steertrak has solid pedigree in the sector with a great team – and very strong growth potential for the future.”
Zygo Capital were advised by Charles Cook of Cook Corporate Solicitors in Bristol. Charles is a strong figure in Private Equity in the region being a founder member of the Bristol Private Equity Club and having acted as a solicitor in some of the most high profile transactions in the city.
Charles commented: “It was a very good transaction to be involved in. Steertrak is a real success story and it is great to see a South West business that is the leader in its sector in the UK. We wish Jeremy and Zygo Capital every success with the future.”
Milsted Langdon advised Zygo Capital on the Financial and Tax aspects of the transaction and Steertrak’s shareholders were represented by Clark Holt in Swindon.