Electrical contractor undergoes MBO in quest to become £50m turnover business

J S Wright executive management team, from left: Phil Leech, Marcus Aniol, Paul Featherston, Martin Roberts, and Andrew Smith

A Birmingham mechanical and electrical fit-out specialist has undergone a management buy-out in its quest to become a £50m turnover business.

Aston-based J S Wright has been bought out by its senior management team. The terms of the deal have not been disclosed.

The mechanical and electrical building services specialist, which also has offices in Bristol and London, is now owned by its team of five executive directors who have run the business for the past 10 years.

J S Wright specialises in the design and installation of mechanical and electrical (M&E) services for the hotel, residential, social housing, student accommodation, leisure and commercial sectors.

The company has grown over the past 10 years to become one of the UK’s leading building services providers, offering M&E services in association with its electrical partners.

With more than 150 directly employed staff and a projected record turnover in excess of £50m for 2017-18, current projects range from the fit-out of Birmingham’s Left Bank development to a record-breaking £27m M&E contract for Keybridge in London, incorporating the UK’s tallest residential apartment tower.
Marcus Aniol, who was appointed managing director in 2008, is now a major shareholder in the company alongside finance director Martin Roberts, national design and estimating director Andrew Smith, national mechanical contracts director Phil Leech and national electrical contracts director Paul Featherston.

The buy-out follows the retirement of previous owners and main board directors Peter Marsh, Edwin Moore and David Osborne, who stepped down from the day-to-day running of the company in 2006.

Mr Aniol said: “We have an established team of directors in place with the drive, determination and vision to take the business forward to an exciting future. We aim to build on our long-standing business relationships, and continue to grow our business with clients and suppliers that like us value people, integrity and the highest quality standards.”

The corporate finance team at the Birmingham office of accountants MHA MacIntyre Hudson, led by Mukesh Bulsara, advised the management team on the buy-out, with MHA tax partner Jay Boyce providing expert tax advice.

The Wilkes Partnership, led by Gareth O’Hara, provided legal advice to the management team, while the legal advisers to the vendor was Shakespeare Martineau, led by Gary Davie.  Funding for the transaction was provided by NatWest Bank.

Mr Bulsara said: “Firstly, the deal represents an exciting opportunity for Marcus Aniol and the management team to implement their vision and plans for the future and it has ensured a seamless transition of control.  Secondly, it was great to work with Midlands-based advisors to complete a ‘Made in the Midlands’ deal.”

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