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Cambridge Maintenance Services Management Buyout Complete

Cambridge Maintenance Services Management Buyout Complete
14 December 2020
 

Rockpool Investments has backed the management buyout of Cambridge Maintenance Services, a leading provider of mechanical and electrical engineering services in the UK.

The management buyout was led by Ian Wheeler (Managing Director) and Chris Kindon (Operations Director), following a period of sustained growth for the company. 

Michael Ruddock and Mark Beadle joined the board at completion of the deal as Finance Director and Non-Executive Chairman respectively. Clydesdale Bank provided senior loan facilities to support the acquisition.

Cambridge Maintenance Services (CMS) is a nationwide supplier of technical engineering services, offering mechanical and electrical planned preventative maintenance.

They specialise in disruptive smart technology to deliver regulated building maintenance, testing and compliance services across nine engineering hubs in the UK.

 

Continuing Growth Strategy

 

Ian Wheeler, Managing Director of Cambridge Maintenance Services, commented on the buyout:

“This transaction marks an exciting next step for CMS to continue our development in the sector and to strive to be the maintenance service provider of choice. The buyout will provide enhanced opportunities for members of our fantastic team to develop with the business and provide more services in house.

“Most importantly, we strongly believe that it will provide our clients with confidence that with the current management team remaining in position, it will be very much business as usual. We are delighted to have found a supportive long-term partner in Rockpool Investments and we look forward to working with them to deliver our business plan.”

Tom Coey and Simon Collins led the investment for Rockpool. Coey added:

“This deal represents a fantastic opportunity for our investors to support an established and well-managed business with an excellent reputation in the facilities management sector. Ian and Chris have led Cambridge Maintenance Services through an impressive growth phase amidst changeable market conditions this year, and we are pleased to be backing the team to continue with their growth strategy”.

Rockpool, the private equity firm, was advised by Taylor Wessing LLP (legal), Cavendish Corporate Finance (debt and M&A), Grant Thornton Corporate Finance (financial and tax), RPL Advisory (commercial), Catalysis Advisory (management) and Lumin Insurance (insurance).

Cambridge Maintenance Services was advised by Hewitsons LLP (legal), Grant Thornton Corporate Finance (M&A) and Saffery Champness (tax).

Picture: a photograph of a maintenance engineer working 

Article written by Ella Tansley | Published 14 December 2020

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