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.
Indicative offers are required by 12:00hours on Monday 20 January 2020 with a view to completion shortly thereafter. The proposed Joint Administrators are seeking parties interested in the business and assets of a Company that trades as a recruitment...
LEASEHOLD
Offers and proof of funding sought by 17:00hours on Friday 24 January 2020. The Joint Administrators are seeking parties interested in the business and assets of a commercial contractor business based in the Midlands.
Provides highly skilled and professional hospitality staff across a variety of sectors. Recognised as both a preferred and top tier supplier for several of its prestigious clients. Supplying both temporary and permanent Nationwide staffing solutions....
LEASEHOLD
|
17
|
|
Jan
|
Sample book and shade card manufacturer acquired from administration | BUSINESS SALE
The business and assets of Yorkshire-based display products ...
|
16
|
|
Jan
|
Northgate and Redde shareholders approve merger | MERGER
The proposed merger of listed companies Northgate and Redde ...
|
15
|
|
Jan
|
SSE sells retail business to OVO Energy | DIVISION SALE
Power utility SSE has announced it has completed the sale of...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources