Dawsongroup is floated for £55m on Stock Exchange
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• Truck rental, contract hire and dealership company Dawsongroup has been floated on the Stock Exchange with a value of £55 million. Owner Peter Dawson stands to make £11.3 million, and will continue to control 75% of the firm.
Dawsonrentals accounts for 70% of the group's profit. Its rental and contract-hire fleet of almost 2,000 has grown from 404 in 1983. It has 26 depots and plans for 13 more in the next 18 months.
Dawsonfreight Commercials is Britain's biggest Volvo dealership, and makes 29% of the group's profits. Last year it sold 10% of all new Volvo commercial vehicles bought in the United Kingdom.
Over the five years to December 1987, Dawsongroup's pre-tax profits have grown from £1.1 million to £4.2 million. Profit for this year is forecast at £5.9 million — up 39% on 1987.
The company started as a road haulage business in 1935, but this was sold in 1982.