Birmingham advisers work on sale of Lifecycle Management Group
Debrett’s Private Finance, which has offices in Birmingham and Solihull,has advised on the sale of Lifecycle Management Group Limited to a trading group owned by Kent County Council.
Lifecycle was established more than 30 years ago by majority owner and founder Peter Mullin.
The business, which is headquartered in Oxford, now employs around 50 staff and provides contract management services to the NHS and other public sector organisations.
It has more than £450m of contracts under management.
The purchaser, Commercial Services Group, is one the largest, local authority owned, trading organisations in the UK.
It has grown to become one of the leading suppliers of products and services to the education and public sector, serving over 15,000 customers in over 80 countries.
Lifecycle will sit within CSG’s procurement division.
Peter Mullin said: “I am incredibly proud of the business that I, and all of the Lifecycle team, have built over the last 30 years. It is especially pleasing to know that its new custodians share my passion for the future growth and success of both the business and the team employed within it. I am very grateful for the invaluable support from my advisors and senior management team during this transaction. ”
Corporate Finance advice to the shareholders was provided by Gaby Eeles and James England of Debrett’s. Legal advice to the shareholders was provided by Emma Rowley of Ansons Solicitors.
Gaby Eeles, principal at Debrett’s, said: “This was an enjoyable transaction to have advised upon. It was clear that CSG represented the best home for Lifecycle and will allow it to flourish in its new environment. I wish Jon and his management team the very best for the future.”
