Two distinguished Midlands based businesses have been sold in deals advised by Smith Cooper.
Premier Electrical Services Limited, a multidiscipline mechanical contractor, was sold in a Management Buy Out to James and Marie Brader, whilst Premier Facilities Maintenance Limited, a facilities maintenance service provider, was sold to third shareholder, Mike Wagstaff. Both companies are located in Ilkeston, Derbyshire.
Established in 2001, Premier Electrical Services Ltd started life as a mechanical contractor in the small Nottinghamshire village of East Leake. Now a specialist M&E contractor, they offer a host of electrical and mechanical services throughout the UK.
Premier Facilities Maintenance Limited offer a full facilities support service including a range of reactive, planned and compliance maintenance services.
The exiting shareholders are Martyn Kelk and Martyn Oliver. Of the transaction, Martyn Oliver comments “We are proud to pass the baton on, and firmly believe this is the right move to enhance the companies’ current offerings and underpin both growth plans, whilst ensuring our customers continue to receive the same high-quality services that they have become akin to.”
He continues “David Nelson of Smith Cooper played a pivotal role in the outcome of the transaction, and his guidance and management throughout the process helped ensure a smooth deal for all parties.”
David Nelson, Partner at Smith Cooper was appointed to operate a facilitation role for both transactions, as instructed by all parties.
Funding for the transaction was provided by Ben Pittam of ABN Amro.
Legal advice for purchasers was provided by Louise Taylor of Austin Moore & Partners in Nottingham, whilst legal advice for the vendors were provided by Martin Hall of Cleggs Solicitors.