A leading professional Consulting Structural Engineering practice has successfully completed a sale of the business to a Management Buyout (MBO) team.
Bolton-based Frederick G. Markland Associates, established in 1985, offers a complete Structural Engineering service to a wide portfolio of clients within the commercial, residential, educational, leisure, and industrial sectors. Undertaking the design of brand new buildings, adaptations of existing buildings and structural surveys, the business has collaborated with large household names such as The Cooperative Bank plc, Stonegate Pub Company Ltd and NHS.
The Pierce Corporate Finance Team led by Steven Bell and tax director Dominic Ball advised the shareholder, Chris Markland, on the transaction. The transaction was structured to allow Chris to realise his investment while maintaining a financial investment in the business at the same time as allowing the existing Management team of Nick Cookson and Ben Clelland to take the business forward. The Management Team has been within the business for an extensive period and has been fundamental to the growth of the business.
Legal advice to the Vendors was provided by Greg Gardner-Boyes of KBL Solicitors and Jenny Burke of Forbes Solicitors advised the management team.
Steve Bell, Pierce Corporate Finance, said: “It was a pleasure for myself and Dominic to work with Chris in structuring a transaction that allows the management team to take the business forward. We are delighted to have found a strategy that secures the continuing success of Frederick G. Markland.”
Chris Markland, added: “The team at Pierce led by Steven and Dominic have structured a deal that allows me to realise my investment in the business whilst also providing a structure to allow Nick and Ben to take the business forward and continue to deliver the exceptional service that the Company is recognised for.”
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