SECTOR: CONSTRUCTION & RETAIL
COMPLETED: MARCH 2022
Fiander Tovell, Meridian Corporate Finance and Moore Barlow have collaborated to advise on a management buyout of a Solent-based firm as it enters a new growth phase. Founded in 2000 and located in Hampshire, the company specialises in providing construction industry products and installation services, on time and to a high quality standard. With a well-established and loyal client base, they cater to various construction sectors, including housing developments, commercial ventures, and leisure projects.
The company continues to expand year on year, with tendering requests from new companies being received on a regular basis. The management buy-out marks a significant step towards further growth for the business, by enabling the existing management team to pursue their growth strategy and product expansion plans with dedication, all 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; Philip Mettam, Director at Meridian Corporate Finance and Kirsty Bowyer, Senior Associate at Moore Barlow.
Cathy Revis commented: “Collaborating closely with Meridian and Moore Barlow, we designed a bespoke, tax-efficient structure that not only addressed the immediate share transfer, but also established incentive packages for key individuals and allowed for future succession. This approach ensured the nurturing of future talent, which supports the company’s established ethos of talent development across the business. By adopting this approach, the shareholders can gradually step back from their day-to-day obligations, mitigating any disruptive impact that swift ownership changes might otherwise bring.”
Kirsty Bowyer, Senior Associate in the corporate team at Moore Barlow, was supported by solicitors Dean Outten and Isabelle Balch. Commenting on the deal, Kirsty said: “We’re seeing an increase in demand from business owners and shareholders who are looking to kick-start sustainable succession plans and facilitate the smooth handover of their company. A management buyout is a popular option as it allows the existing management team to secure equity in the company and minimises disruption for employees and customers as there is little change to day-to-day operations.”