|Deal completed in:||8 months|
A well-established landscape construction company which had minimal competition local to its core client base in North Wales.
In recent years, the business had performed consistently and had experienced significant growth in the financial years 2015 (c.10%) and 2016 (c.17%).
There was an extremely strong management team running the business day to day, and along with a solid in-house team and network of external sub-contractors, the business was able to take on large, £1m multi-skilled schemes.
The vendors believed that they had taken the company as far as they could. Being in their mid/late fifties, they both wished to semi-retire.
The vendors felt that the significant growth potential of the business would be better realised by a larger company with the resources to expand across a wider geographic footprint.
What Hornblower Did
We launched an extensive marketing campaign with focus on our established network of buyers in the construction sector. Within just 2 months, we had generated 30 sales leads; 3 of which made offers in line with our valuation expectations.
Mark Sykes, our International Mergers & Acquisitions Director, led the sale from initiation through to completion. Mark assessed the buyers’ suitability and funding arrangements, set up meetings between buyers and vendors, and negotiated final offers on our client’s behalf.
We established the market value for the business, and by doing so, were able to command the best deal value and sale structure for our client.
Once the ‘best fit’ buyer was identified, we organised the Heads of Terms agreement and managed the transaction process until completion.
In addition, we managed the due diligence process between lawyers and accountants; saving our client a significant amount in legal fees.
A sale of 100% of the shares was agreed, as was a full handover process by the vendors.
The whole process from appointment to completion took just 8 months.
SOLD – November 2016