Nottingham-based Churchill Specialist Contracting Ltd has completed a management buyout (MBO), backed by funding from Virgin Money. The Transaction and Advisory Services team at PKF Smith Cooper supported Virgin Money by providing financial due diligence services for the transaction.
With over 30 years in business, Churchill Specialist Contracting operates across a variety of specialisms including specialist access, structural maintenance, concrete repair, industrial leak sealing, lighting protection and specialist earthing.
The company has been involved in significant long-term projects such as the refurbishment and maintenance of the cooling towers and chimneys at Ratcliffe-on-Soar Power Station, as well as contributing to the London Power Tunnels project. Churchill also played a key role in the recent renovation of Derby Market Hall’s multimillion pound refurbishment.
Virgin Money’s support has enabled the management team to purchase the business.
A PKF Smith Cooper team led by David Nelson, Transaction Advisory Services Senior Partner, and Deniss Sipovics, Transaction Advisory Services Manager, supported on the transaction with financial due diligence on the company.
Deniss commented: “It was a pleasure to support the management team at Churchill and to work with Virgin Money on this significant transaction. We were pleased to provide financial due diligence to support the deal, which represents an exciting opportunity for the new owners to build on the company’s strong legacy and drive it forward into its next phase of growth. We wish them every success as they continue to deliver exceptional specialist services across the UK.”
