Two Gloucestershire-based law firms have advised on a management buy-out of Cavendish Park Bricklayers Limited, worth £6.25m, by Cavendish Park Holdings Limited, a newly incorporated company controlled by the management team.
Cavendish Park Bricklayers Limited is a building services company based in Drybrook, Gloucestershire. Since 2012, the business has been providing commercial and residential building bricklaying services to main developers.
The BPE Team were led by Senior Associate, Adam Kean, with assistance from Philippa Kean and Rupert Parker. BPE’s Corporate team advised Cavendish Park Holdings on the buyout of the business, securing the transaction and completion.
Mark Nutting, Director of Cavendish Park Holdings Limited, commented: “BPE’s support and guidance, based on their experience and expertise, have been invaluable in delivering a timely and successful outcome for all of the management team, ensuring a smooth transition and allowing the focus to be on the next phase of growth for the business.”
The sellers’ solicitor, Willans LLP, were led by Associate, Sophie Martyn with assistance from Partner, Paul Symes-Thompson, advising the former directors and shareholders of Cavendish Park Bricklayers Limited on their exit from the business.
Commenting on the deal, Adam said: “The target is a well-established and successful business based in Drybrook, Gloucestershire and we are pleased that our expertise has ensured a smooth and successful outcome for the management buy-out team.”
Sophie Martyn, Corporate & Commercial Associate Solicitor at Willans LLP said: “It has been a pleasure to work with Pete and Neil on the sale of their shares in Cavendish Park Bricklayers Limited. We were responsive and worked quickly to complete the transaction within a short time frame to achieve a successful conclusion for the sellers.”