The £255m deal will see Neil Partridge, formerly financial director of Ainscough Crane Hire, become CEO. In an announcement, Partridge said, “The buy-out has come at an extremely exciting time for the company, market conditions are buoyant and with the bank behind us we will be able to continue to grow and enhance our market leadership position. The entire management team is remaining in place and we are delighted to be going forward with Bank of Scotland Integrated Finance.”

Martin Ainscough, who, with brothers James and Brendan, has run the business since 1984, said, “I’m delighted to be able to give chief executive Neil Partridge and the rest of the management team the opportunity to continue to develop and grow the business with the support of the Bank of Scotland.”