Bank provides seven-figure backing for Employee Ownership Trust deal

Warrington-based building control system designer and installer, Building Technology Systems (BTS), has been acquired by an Employee Ownership Trust with support from HSBC UK.

With the support of a seven-figure funding package from HSBC UK, the newly-formed Employee Ownership Trust (EOT) has made a 100% purchase of BTS from current owners Graham Spark and Dean Brookes.

The existing owners were keen to adopt this route as it allows them to stay in operational control of the company until their eventual future retirement, with a smooth transition of management over a number of years for their customers and staff.

All jobs have been retained following the buyout.

Graham Spark said: “We’re incredibly proud to have built an innovative business that has stood the test of time for over 20 years.

“The time was right to ensure the future of this company, so when the opportunity came to pass ownership to our employees we were confident that this would put the business in the right hands.

“This buyout will guarantee that the business can continue to provide reliable control system solutions for our customers as well as job security for our employees.”

Stephen Wright, business banking relationship manager for Greater Manchester, HSBC UK, said: “For over two decades the company’s directors have created an innovative and progressive building systems management company earning an excellent reputation for service and quality throughout the UK.

“The new Employee Ownership Trust is made up of individuals that completely understand how the business operates and we’re fully confident that they can continue to lead BTS to long-term success.”

Sam Roden, business banking area director for Greater Manchester, HSBC UK, added: “We’re delighted to support BTS as it enters its next chapter in achieving its growth aspirations.

“HSBC UK support a large number of employee-owned businesses and are actively looking to engage with organisations that are considering the transition as part of their succession plans.”

Established in 1996, BTS employs 54 staff across nine roles. The business designs and installs integrated building control systems for controlling heating, ventilatin and air conditioning systems, lighting, door access and CCTV, as well as energy management services and full after sales maintenance.

The sale was advised by Ryan Niblock and Ben Bradley of Hurst Corporate Finance and Liz Gallagher and James Hamilton from the Hurst tax team. Ward Hadaway provided legal advice.

Ryan Niblock said: “BTS is a long-standing client of the firm who have always led by example, not only in their industry, but also within their business.

“They have a great team and this Employee Ownership Trust is testament to the fact that they truly value their employees and company culture.”

Deb Oxley, chief executive of the Employee Ownership Association, said: “Congratulations to Building Technology Systems on their transition to employee ownership, which will secure the values, culture and employees of the business for the longer term in the communities in which it is based.

“Access to finance is a key issue for supporting more employee ownership succession plans in the UK, so we are delighted to see HSBC UK finance this transition, which supports our evidence that employee ownership is becoming more respected, more widespread and more successful as it moves into the mainstream of business ownership.”