Mon, 17 Sep 2012 | BUSINESS SALE
The sale of Citation is nearing completion as the company's owners have received a number of offers from private equity and trade buyers.
The employment law and health and safety consultancy is based in Wilmslow and a deal is expected to be reached before the end of the year.
At the moment, PwC corporate finance experts are advising the shareholders on the sale process. Paul Hogarth has a stake of around 45 per cent, while chief executive Lindsay Hill has a 30 per cent stake. Chairman Anthony Bloor, investor Phil Hughes and finance director Julie Moran also hold shares in the business and stand to benefit from a windfall when a sale goes through.
A source commented to the Manchester Evening News: “There's a lot of interest in the business and quite a number of bids have been made. These are currently being sifted. A deal could take place within the next couple of months.”
Citation was founded in 1995 and has 220 staff, including 130 in its headquarters. Its other employees work on a consultant basis nationwide, offering assistance to SMEs on matters such as regulatory compliance, disciplinary and grievance issues and redundancy programmes.
This business presents an enticing opportunity with established relationships with blue-chip organisations globally, a strong client retention rate, and the potential for relocation.
Discover a quality-driven commercial cleaning business with a diverse client base and a solid reputation, built over two decades. .
This is a unique opportunity to acquire a well-established company with a strong reputation in the insurance market, known for its quality work and professional service. The company offers an excellent bolt-on opportunity for expansion into the North...
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