100-year-old building firm in BIMBO deal
J MILLS, a 100-year-old maintenance contracting firm in Urmston, has undergone a buy-in / management buyout for an undisclosed sum.
The deal sees Paul Noall, a former head of strategy at developer Eatonfield, become the new managing director and majority shareholder of J Mills (Contractors) Limited.
He is joined on the new management team by contracts director Gary Solomon. Peter Mills, the previous managing director, will remain with the business.
The business specialises in the refurbishment of pubs, student accommodation, offices, car parks, retail outlets and industrial units.
Set up in 1908 by John Mills, grandson Peter took over in 1991 and expanded the firm into new markets including responsive maintenance services.
Today, it handles contracts across the North West and Midlands for customers including Punch Taverns, Segro and dozens of major commercial, residential and industrial property owners and agents.
Recent contract wins include an £800,000 project for City Link to upgrade and refurbish the former MFI Distribution Centre in Appleton Thorn, Warrington and a £650,000 contract with The Mansion Group to upgrade 200 bedrooms and 56 flats in Fallowfield.
New managing director Paul Noall has previously worked with PricewaterhouseCoopers and a listed property developer.
He said: “J Mills has an impressive track record of innovation and high quality service, thanks to the drive and determination of Peter and his predecessors. With a strong forward order book and a growing customer base across the region, the new team is well positioned to accelerate the business’ growth trajectory and preserve its well-deserved reputation.”
NatWest provided funding for the transaction, while BTG McInnes Corporate Finance in Manchester advised on the sale process. Brabners Chaffe Street advised the purchaser, Baker Tilly provided financial due diligence and Cobbetts advised NatWest.
