Management acquires the Forshaw Group

LIVERPOOL building repair specialist The Forshaw Group has been acquired by its management, backed by the Merseyside Special Investment Fund (MSIF).
 
Forshaw carries out repairs for insurance companies in cases where properties have been damaged by fire or flood.
 
The MSIF has provided a £500,000 mezzanine loan to fund the buyout led by existing directors Liam Hanlon and Jay Calvert.
 
Forshaw Group was originally set up in 1948 and was being run by the second generation of the Forshaw family at the time of the sale. The company is based at Brunswick Business Park and employs 25 full time staff and up to 150 sub-contractors. Turnover this year is expected to be around £3.4m.
 
Mr Hanlon said: “We are delighted to have completed this transaction which will enable us to develop the Forshaw Group business. We believe that our experience and knowledge of the business and its customers means we are best placed to move the company forward and take advantage of opportunities for growth.
 
“The buyout process was quite intense but we had fantastic support from Malcolm Jones and MSIF which made all the difference. We are now very much looking forward to the future and continuing the good work and name built up by the Forshaw family.”
 
Malcolm Jones, investment director at MSIF said:  “We are delighted to support a long established business which will remain under control of local management meaning the business stay in the area.”
 
“We look forward to continuing to work with the Forshaw Group through the next chapter of the business’s development.
 
Liverpool accountant Duncan Sheard Glass advised the management team, along with Hill Dickinson and Langtons. Advisors to MSIF were Mitchell Charlesworth and Brabners Chaffe Street.