Background
Factair, a heating, ventilation and air conditioning company, was under plc ownership and had been identified as non core. The management team, led by Clive Wakeman, wished to continue with the business and the team considered this to be an ideal time to take over the business themselves so sought to carry out an MBO.
What Ensors did to achieve the deal
With Ensors help the management team successfully put together a proposition that was accepted by the board. Since the MBO, the team have recorded record levels of turnover growth and profitability and haven’t looked back.
“When considering the MBO I sought advice from a good business acquaintance who had gone through a similar process several years ago in Scotland. The advice he passed on was simple, ‘when entering into an MBO from a plc get the best possible advice that you can’, that’s exactly what we did with David and the team from Ensors. It definitely paid off during the MBO negotiations and we have not looked back since. I would certainly recommend the MBO route to any management team who, as we do, believe in their business. The advantages of running your own company from a well structured business plan, free from the constraints of operating under plc control, are there to be had and in our experience the business can flourish as result.”
Clive Wakeman – Factair Limited
