Building services firm undergoes MBO in seven-figure deal
Trafford Park-based building services firm, Charles Andrews, has undergone a seven-figure management buyout, backed by an SME Loan from Mercia.
The company employs 30 staff and provides mechanical and engineering services for construction and infrastructure projects nationwide. Its origins date back to 1945, when it was founded by Charles Andrews and played an active role in Manchester’s post-war reconstruction.
The buyout gives control of the business to Neil Walker, who has spent 14 years in total with the company, most recently as acting managing director. It also allows for the retirement of Anthony and Jennifer Cryne, who took over the business in 2003.
Charles Andrews employs multi-disciplined building services engineers capable of delivering both electrical and mechanical design, as well as providing surveys, which, in turn helps clients keep costs down by removing the need for two separate consultants. It provides services ranging from concept and detailed design throughout all construction stages, including project and contract management and associated technical reports.
Recent projects have included large scale public sector and commercial buildings including schools, hospitals, prisons and car showrooms, as well as gas, water and airport infrastructure.
Neil Walker, who now becomes managing director, will continue to lead the business going forward with the assistance of his wife, Victoria Cale Walker, the company secretary, and Adam Woods, technical director.
Neil said: “Building services are critical to create a safe and comfortable environment within a building whilst minimising the environmental impact and carbon footprint. Our services are in increasing demand – not only from firms involved with new construction projects, but especially with existing property owners seeking ways to reduce their carbon footprint.”
He added: “I am proud to be taking over the reins at Charles Andrews. Anthony and Jennifer have done a great job in leading the business and building its reputation over the past two decades. I look forward to continuing to provide an expert service to our clients while maintaining our family business ethos.”
Andy Heaton, of Mercia, said: “Charles Andrews is a historic business that has developed over time – from its role in the post-War reconstruction to helping today’s companies meet the challenge of decarbonisation.”
David Griffiths, of Sterling Capital Reserve, provided fund raising advice to the company.
