Mon, 22 Aug 2016 | MBO/MBI
Construction business Baqus Group has been purchased in a management buyout (MBO), and will be seeking to make acquisitions via a newly appointed team.
The buyout was led by chief executive Rob McNeil along with Jim O'Brien, Brian Williams, Ray Palmer, Paul Warburton, Aiden Lewis and Andy Welch; and was supported by Lloyd Bank Commercial Banking with £1.2m, providing 30 per cent of the funding, Insider Media reported.
With many of the original directors at their retirement stage the timing of the MBO was right, Mr McNeill said, and “this option was considered to be the best proposal for all existing shareholders, our clients and rising talent within the business."
"Going forward, it means we have a new, much younger executive team with equity in the business, which will look to consolidate initially and then grow via acquisitions,” he added.
Established in 2007 and headquartered in Liverpool, Baqus is the result of a merger between construction firms Fletcher McNeill, Boxall Sayer and Denley King. It has offices in locations across the UK including London, Birmingham, Manchester and Oxford.
It offers a range of construction-related services including quantity and building surveying, property consultancy and dispute resolution, across many sectors including government, education, heritage, transport and residential. Past projects include Walthamstow Bus Station; Legoland Hotel; St Paul's Church in Hammersmith, London; and the Ministry of Justice.
Find a construction business for sale.
A leading engineering firm focusing on electric power steering solutions and bespoke wiring harnesses serving various industries. It operates as two entities both reputable for maintaining high standards and offering bespoke solutions for clients. In...
Market-leading fruit and vegetable supplier distributing fresh produce and complementary goods both wholesale and D2C. The companys uncompromising drive for customer satisfaction has built strong relationships with across an enviable client base incl...
Turnkey construction services provider completing a range of projects with expertise across maintenance general refurbishment new build and conservation including work on listed buildings. The company provides full-service construction works utilisin...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.