SECTOR: CONSTRUCTION & PROPERTY
COMPLETED: MARCH 2023
Fiander Tovell, Meridian Corporate Finance and Shoosmiths have collaborated to advise on a management buyout of a Solent-based firm as it enters a new growth phase.
This Award-winning Property Developer based in Hampshire was founded in 2004 and specialises in land development; residential housing; and care and retirement sector. They have many successful working partnerships with housing associations and JV partners. Awards include Residential Developer of the Year 2022 and 2019 in the Solent region and One of the 100 Best Companies to work for in the South East 2022. The business is renowned for its outstanding quality and design, and reliable delivery of projects.
The management buyout marks a significant step towards further growth for the business, as the founders begin their withdrawal after more than 30 years in the sector each. The well-established management team are now able to pursue their growth strategy and product expansion plans with dedication, whilst maintaining the company’s reputable brand,
The deal was led by a team of local professional advisers; Cathy Revis, Head of Tax and Transaction Support at Fiander Tovell; Michael Barcia, Director at Meridian Corporate Finance and Mark Sheperd, Partner at law firm Shoosmiths.
Cathy Revis commented: “I have been working with the business for many years and helped design the deal structure to enable founders to exit whilst offering clear growth-based incentives for the management team. Collaborating closely with Shoosmiths, we designed a comprehensive package of measures for a complex trading group that sees the founders immediately stepping back from their day-to-day obligations, whilst mitigating any disruptive impact that swift ownership changes might otherwise bring.”