An engineering consultancy firm which provides advice to businesses on health, safety and risk management issues has been bought out in a deal worth £2.7 million. Health, Safety and Engineering Consultants (HSEC), based in Ashby de-la-Zouch, has undergone a £2.7 million management buy-out backed by venture capitalist EV.
The founder of HSEC, Bob Mitchell, will remain with the business, retaining a financial interest and continuing to provide expert witness services. The MBO was led by the director of consultancy services, Dom Barraclough, who becomes managing director.
Mr. Mitchell was advised by business advisory form Cooper Parry, which has offices in Derby, Nottingham and Leicester. It is the fifth deal completed by the team in the last few months.
David Browne, corporate finance partner at Cooper Parry, said: "We are delighted to have helped with Mr. Mitchell who founded the firm on this buy-out. This is a really strong and unique business which will benefit from the greater level of autonomy it now has and we wish them every success in the latest chapter of the firm.
"This makes five deals completed in the last few months by the corporate finance team at Cooper Parry and further enhances our reputation in the sector."
Established in 1991, with its roots in the engineering service of British Coal, HSEC employs 22 staff. Under its RHMA brand, it provides forensic investigation and expert witness services dealing with personal injury, commercial liability and health and safety regulatory work to an increasing number of law and insurance firms.
The new management team at HSEC includes newly appointed financial director, Peter Brown, and new non-executive directors John Crabtree, previously senior partner with Wragge & Co, and Patrick Kelly, formerly a senior partner with PA Consulting.
Debt facilities were provided by the Co-operative Bank and included funding to support the company's future growth.
To find out more about the HSEC deal, and how Cooper Parry Corporate Finance added value, just get in touch with David Browne by calling +44 (0)7879 431343 or emailing email@example.com