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Mayfair Fire Protection and Professional Fire Solutions, which are both based in Oldbury, West Midlands have been acquired by Gloucestershire Company Green Compliance plc in a multi-million pound deal.
Green Compliance, a provider of energy certification and consultancy services, bought the Black Country businesses as part of its growth strategy to establish itself as a leading UK provider of integrated business compliance services focused on environmental, health and safety issues in the workplace.
Mayfair provides fire protection equipment, training and associated services to a range of clients across the UK whilst Professional Fire Solutions which primarily recycles old fire extinguishers. Former owners and founders, Richard Cullen and Tony Beale, formed Mayfair thirteen years ago and will be staying on to help build the business under Green Compliance’s ownership.
Springboard Corporate Finance advised the sellers on the deal. David Neate said: ‘We are pleased to have played our part in securing this deal which is good news for the previous owners and Green Compliance alike. Richard and Tony are staying with the business as it enters its next phase of development and Mayfair can now look forward to a bright future within a larger business.'
Tony Beale, commenting on the service provided by Springboard said: ‘We chose Springboard to support us they managed the sales process putting breathing space between us and the buyer. They handled the negotiations with the buyer, and provided additional support and expertise to manage the due diligence process which helped us achieve a strategic premium for the business. This allowed us as owner managers to do what we do best focusing on the running of the business. I would strongly recommend Springboard to anyone looking to sell their business.’
Posted 31/05/2010
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L-R Photo shows David Neate from Springboard, with Birmingham-based HBJ Gateley Wareing lawyers Darren Ormsby and Chris Reed (Partner)
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