Castle Square advise on the Management Buy-Out of Glanville Consultants




 

Engineering, design and surveying consultants, Glanville Consultants has changed ownership in a Management Buy-Out.

The company provides consulting services to a blue-chip client base in the fields of Structural Engineering, Civil Engineering, Transport & Highways, Geomatics and Building Surveying, operating from two UK  offices based in Didcot, Oxfordshire and Hemel Hempstead in Hertfordshire.

The shareholders, Howard Gell, John Birch, Chris Edge and John French acquired the business themselves via a Management Buy-Out in 2011. Over the last eight years, along with the support of the senior management team, the shareholders led a transformation of the business culminating in a fee income growth of 60% and a trebling of profits. Since 2011 the company has grown to 10 Directors and almost 100 fee earning staff across the two offices.

Howard Gell and John Birch remain shareholders following the Buy-Out and are joined by Directors Tim Foxall, Andy Smith, John Hanlon and Hylton George as shareholders.

Howard Gell said, “This is a great day for Glanville and marks the start of another period of investment and expansion of the business.  The new shareholders have all progressed through the ranks, know the firm well and will now be an even greater asset to the business.”

Yorkshire based dealmakers; Castle Square Corporate Finance provided corporate finance advice to the management team, leading negotiations on transaction value as well as deal structure working alongside law firm, Freeths who provided legal services and advice.

Castle Square is a mid-market specialist corporate finance boutique and has a proven track record in working with management teams to agree on Management Buy-Out terms with business owners and deliver the funding for the management team via the debt and equity markets.

Director Kevan Shaw and Patrick Lynch from the Castle Square team led on the deal.

Patrick Lynch said, “Over the last 10 years Glanville has grown to become one of the UK’s leading multi-disciplinary engineering consultants advising blue-chip clients on projects throughout the UK and overseas. It is fantastic to have advised on the deal, which will see control of the company pass to the next generation of management in preparation for the next stage of business growth”.

The Birmingham office of National Law Firm, Freeths, led by Corporate Partner Ateeq Ahmed, provided legal, tax advice and support to the company and the management team on the transaction.

Ateeq Ahmed said, “Having worked with the Glanville team over the last couple of years, it was great to support the evolution of the business through this transaction. It’s a fantastic business and the new management team have great enthusiasm and energy for driving future success. It was a genuine pleasure to be involved in the deal and we look forward to continuing to work with the team.”

Michael Stace of Browne Jacobson’s Birmingham office advised the exiting shareholders Chris Edge and John French on the transaction, supported by Tax Partner Andrew Noble.

 

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