East Mids team advises on Brum MBO

The corporate finance team at the Leicester office accountants, MHA MacIntyre Hudson, has advised directors of Birmingham mechanical and electrical building services specialist, JS Wright, on a management buyout (MBO).

Leading the corporate finance team at MHA MacIntyre Hudson, Mukesh Bulsara advised the five executive directors of JS Wright, who have run the firm for the past 10 years.

The advice included the proposed deal structure, valuation, the raising of finance and full project management of the transaction. Supporting the deal, Jay Boyce, a tax partner at MHA MacIntyre Hudson, provided tax advice, while funding came from Elliott Watts of NatWest Bank in Leicester. Legal advisers to the bank were led by Lisa Botterill of Nelsons Solicitors, while Gary Davie of Shakespeare Martineau Solicitors led legal advice to the vendors.

Marcus Aniol, who was appointed managing director of J S Wright in 2008, remains in his role and is now a major shareholder in the firm alongside Martin Roberts, finance director; Andrew Smith, national design and estimating director; Phil Leech, national mechanical contracts director and Paul Featherston, national electrical contracts director.

Bulsara said: “JS Wright is an excellent business with an experienced management team, and we are pleased to have advised them on this strategic MBO transaction. We are excited about the firm’s prospects and look forward to supporting the management team as they are implementing their vision for the future.”

Aniol added: “The team at MHA MacIntyre Hudson helped us to focus on the key issues, and the advice they provided was always commercial and pragmatic. Mukesh and Jay worked hard to overcome any issues during the transaction process, and we look forward to continuing our relationship with them in the future.”