Tue, 12 Nov 2019 | MBO/MBI
Gloucestershire building services firm Cavendish Park Bricklayers has been taken over in an MBO. The company, based in Drybrook, has been acquired by Cavendish Park Holdings, a newly incorporated venture controlled by its management team and headed by director Mark Nutting.
Cavendish Park Holdings was advised on the deal, worth a reported by £6.25 million, by local law firms BPE and Willans.
BPE’s CorporateTeam advised on the deal, securing its transaction and completion. BPE’s team was lead by Senior Associate, Adam Kean, with assistance from Philippa Kean and Rupert Parker.
Commenting on the deal, and BPE’s involvement, Cavendish Park Holdings director Mark Nutting, said: “BPE’s support and guidance, based on their experience and expertise, have been invaluable in delivering a timely and successful outcome for all of the management team, ensuring a smooth transition and allowing the focus to be on the next phase of growth for the business.”
BPE’s Adam Kean, meanwhile, said: “The target is a well-established and successful business based in Drybrook, Gloucestershire and we are pleased that our expertise has ensured a smooth and successful outcome for the management buy-out team.”
Solicitor Willans LLP advised Cavendish Park Bricklayers Limited’s former directors and shareholders on their exit from the business. Willans’ team was lead by associated Sophie Martyn, assisted by partner Paul Symes-Thompson.
Martyn commented: “It has been a pleasure to work with Pete and Neil on the sale of their shares in Cavendish Park Bricklayers Limited. We were responsive and worked quickly to complete the transaction within a short time frame to achieve a successful conclusion for the sellers.”
Cavendish Park Bricklayers was founded in 2012 and, since then, has provided commercial and residential building bricklaying services to developers.
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