Caldey Corporate Finance is delighted to announce the sale of Ashley & McDonough Limited (“A&M”) to Mecsia Limited (“Mecsia”).
The team at Caldey Corporate Finance led by Janine Vitali and Adrian Dray, advised the Board and Shareholders of Ashley & McDonough Limited, on the sale to Mecsia Limited.
Ashley & McDonough is a leading provider of HVAC, compliance, maintenance and installation services to Local Authorities and Housing Associations for their commercial and domestic estates, predominantly in the North West and Yorkshire in England (UK). The business has recently successfully expanded into other neighbouring regions of the UK.
A&M has multi skilled engineers and operatives enabling it to service the full needs of its clients from programmed compliance inspections through to highly responsive repairs and remedial works across a range of essential client assets, improving lives by creating better environments. .
A&M is majority owned and run by Darren and Jane Cunningham who acquired A&M in a management buy-out in 2017. Since taking that controlling interest, A&M has grown significantly delivering an increasing number of key services to its clients. A&M has a can do culture where the team members have significant autonomy to ensure the best possible service delivery. This has resulted in A&M having never losing a client.
Mescia is a fast growing and expanding group of companies focused on bespoke services delivering operational efficiency for its clients. Its key areas of expertise include mechanical and electrical maintenance, building fabric maintenance and repairs; technology & data-driven maintenance; refrigeration; water treatment, building performance management; and energy and management solutions. Mecsia is backed by award winning private equity firm Synova
Darren Cunnington, as major shareholder and CEO, engaged with Caldey, following the introduction and recommendation from his fellow shareholder Andy Pearson, who had worked with Caldey on a sale of business a couple of years before. One of Darren’s key objectives was for Caldey’ to find an acquisition partner that fully understood and valued the market opportunity and future potential of A&M, alongside having complementary values and culture in servicing their respective clients.
Darren commented “Even though I led the MBO back in 2017, I knew I needed an experienced and rounded set of advisers to present A&M’s compelling future, find the right buyer and execute a great that reflected the value that the whole A&M team has created. Janine and Adrian operate differently to more mainstream M&A advisers and I was immediately impressed by their focus on my personal objectives and how best to achieve them.”.
He commented further:
“I found the complementary skills and ways of thinking of Janine and Adrian invaluable at all stages of the deal. Their communication skills and their pre-emptive approach on all elements of the deal, ensure we were always on the front foot delivering information that underpinned the key strengths of A&M. I wanted a smooth and efficient process, and in every deal there are little bumps, Janine very effectively managed all sides in a collegiate way to get to good solutions. It has been an intense six months and throughout this period Janine and Adrian, were always available, translating the complex elements of the M&A commercial and legal process in a clear manner that gave me clarity in terms of options and the implications of those options. Caldey delivered a great deal and a great result.”.
Janine Vitali of Caldey commented “Caldey’s sole purpose is to deliver the best possible result for owners of businesses who have taken the huge risks of buying into businesses and investing their money and their lives in their success. The purpose of Caldey is to help them on that eventual Journey to Value. For each of our clients, it is a different and very personal journey. Our role is to work closely with and alongside our clients to deliver to their objectives.
We have thoroughly enjoyed working with Darren, Andy and their A&M team. We are delighted that we have sourced Mecsia, as the fit and potential of both businesses is so exciting. It was a privilege to be able to present A&M as the great business it is to a number of compelling buyers and closing the deal with Mecsia.
Caldey Corporate Finance is an independent advisor to entrepreneurs, owner managers and family-owned businesses. Caldey supports its clients and their businesses on their journey to value through delivering strategic advice, fund raising and acquisition services as well as exit planning and execution.
www.caldeycorporatefinance.co.uk
Contacts
Adrian Dray
07711 473237
Janine Vitali
07949 026229