Wed, 11 Oct 2023 | MBO/MBI
A specialist fencing contractor based in Hertfordshire has undergone a management buyout (MBO). The deal has seen Adam Binns, grandson of company founder John Binns, acquire the majority shareholding in the business from Zaun Group, while commercial director Chris Hackett becomes a minority shareholder.
Binns Fencing, which was founded by John Binns in 1937, is a specialist fencing contractor which installs high-security perimeter fencing for a wide range of sites in a variety of sectors across the UK, including infrastructure, energy, military and prisons.
Adam Binns commented: "The acquisition comes on the back of good performance for our business, with the company in a strong position for both the immediate and longer-term future.”
"Personally, I am delighted to see the company my grandfather started back in the ownership of the Binns family and think we should all be excited about the future of the company."
The management team was advised on the transaction by Birmingham-based adviser Debrett’s Private Finance, while banking was provided by Santander. Other advisers involved in the deal included Claritas Tax, Gateley Legal and Gowling WLG.
Discussing the transaction, Will Mason of Debrett’s Private Finance said: "Binns Fencing are specialist operators with a critical role in securing some of the country's most important secure sites. The business performs with distinction both in terms of that security record and the prudence and financial planning that has enabled them to undertake this deal.”
With owners seeking reliable exit options that can help to preserve their business’ ethos and workforce, MBOs have increased in popularity since the COVID-19 pandemic. Read more about their growing prominence in UK M&A in this in-depth analysis.
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