Utilities firm plotting further growth after undergoing MBO

An Oldham utilities specialist has undergone a management buyout, resulting in the exit of two current directors.

Caecillian works across the North West and Yorkshire under framework agreements as a main contractor to Northern Gas Networks and Cadent Gas, as well as a subcontractor to clients such as Network Plus, Morrison Water Services and Avove.

Current directors, James Lawton and Chris Wood, have agreed a 100% MBO from the existing shareholders, Peter Hemlin and Michael Cassinelli.

The undisclosed transaction will allow the founding shareholders to exit. The MBO team at Caecillian will then be able to move to the next phase of its impressive growth story.

London-based SME Capital has backed the new owners, and its regional director, business development, Stuart Watson, said: “Caecillian has established an excellent reputation in this critical sector, supporting utility companies in the gas and water sectors.

“The MBO is the next stage in the continued development of the business.”

He added: “We have been pleased to support James and Chris in this transaction. This is another excellent introduction from Manchester CF boutique Cole Associates. Thanks to all involved including all at our lawyers, Clarion.”

The MBO was introduced to SME Capital by, David Middleton of Manchester corporate finance boutique, Cole Associates.

David Bowcock, at Fieldfisher, acted on behalf of the MBO team with Clarion providing support on legal documentation to SME Capital.