Civil engineering firm swoops for £50m counterpart
Walsall-based civil engineering and groundworks firm M&J Evans has bought a £50m turnover firm in Swindon.
M&J has swooped for Flynn Group, which has 530 staff. The company is run by Alf Hambidge, who will be remaining with Flynn as managing director and who will now join the senior leadership team of M&J Evans.
The industrial products team at Transcend Corporate, led by Chris Bill, advised the shareholders of Flynn on the deal.
Bill Hall, major shareholder of Flynn, said: “Having successfully grown Flynn during the period of our ownership we wanted to find the right buyer for our business. We were delighted to be introduced to M&J Evans by Transcend and quickly saw a common approach to customer service and employee engagement. We look forward to watching Flynn continue to flourish as part of the enlarged M&J Evans Group.
“Transcend played a key role in delivering this deal for the shareholders of Flynn. We gave them a challenging brief, but their hard work and determination was a key factor in ensuring we achieved this successful outcome. We would happily recommend Transcend to business owners looking for corporate finance advice.”
Chris Bill, director of Transcend Corporate, said: “We introduced M&J Evans to the shareholders of Flynn as we believed there was a major value driver for both businesses in bringing them together. Both businesses have seen strong growth their combination will enhance this growth further in the future. It has been a pleasure working for the shareholders in the sale of the business”.
Legal advice to the shareholders was provided by Duncan Sykes of Foot Anstey.