Double deals sees two Ilkeston firms sold
The owners of two East Midlands businesses have exited the firms in deals advised upon by Smith Cooper.
Premier Electrical Services, a multidiscipline mechanical contractor, has been sold in a management buy-out to James and Marie Brader, whilst Premier Facilities Maintenance, 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, it offers electrical and mechanical services throughout the UK.
Premier Facilities Maintenance Limited offers facilities support service including a range of reactive, planned and compliance maintenance services.
The exiting shareholders are Martyn Kelk and Martyn Oliver. Oliver said: “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 added: “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.”
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.
